Advertisements
Advertisements
प्रश्न
Receipt and payment account has the following limitation(s).
विकल्प
It does not reveal surplus or deficit for the year.
It does not indicate financial position of the organisation.
It does not disclose details of receipts and payment.
All of these
उत्तर
All of these
APPEARS IN
संबंधित प्रश्न
Write any two features of the Receipt and Payment Account.
State five uses of Receipts and Payments account.
It is a summary of cash transactions. It is prepared to ascertain the cash balance at the end of the accounting year.
In receipt and payment account opening balance of cash in hand, cash at bank and all cash receipts are shown on the ______ side.
Its balance at the end shows the cash in hand and at bank (or overdraft) at the end of the year.
Receipt and Payment account is a _____ account.
Give two/three uses of Receipts and Payments Account.
Give one difference between Receipts and Payments Account and Cash Book.
A receipts and payments account is a nominal account. Justify a reason either for or against.
Mention any two features of Receipts and Payments Account.
