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प्रश्न
Receipts and payments account is a _________.
विकल्प
Nominal A/c
Real A/c
Personal A/c
Representative personal account
उत्तर
Receipts and payments account is a Real A/c.
APPEARS IN
संबंधित प्रश्न
Receipt and Payment account is a ______ account.
Write the word/phrase/term, which can substitute the following sentence.
Accounts which records only cash transactions in case of Not for Profit Concern.
From the following information, prepare the Receipts and Payments account of Cuddalore Kabaddi Association for the year ended 31st March, 2019.
| Particulars | ₹ | Particulars | ₹ |
| Opening cash balance (1.4.2018) | 11,000 | Interest and bank charges | 250 |
| Bank overdraft balance (1.4.2018) | 20,000 | Miscellaneous income | 350 |
| Stationery purchased | 5,200 | Upkeep of ground | 550 |
| Travelling expenses | 1,800 | Grant from Government | 12,000 |
| Dividend received | 3,000 | Telephone charges paid | 2,800 |
| General expenses | 500 | Endowment fund receipts | 10,000 |
| Admission fees | 4,000 | Insurance premium paid | 2,000 |
| Courier charges | 2,000 | Electricity charges paid | 5,000 |
| Municipal taxes paid | 3,000 | Closing cash balance (31.03.2019) | 1,750 |
Amount received from 'Special Contribution for Silver Jubilee' by a club should be treated as:
Fund Based Accounting is classified under:
(i) Unrestricted funds
(ii) Fixed assets funds
(iii) Restricted funds
(iv) Annuity funds
The nature of Receipts and Payments Account is ______.
Donations received for a special purpose ______
Which of the following represents capital receipt?
Features of Income and Expenditure are:
(i) No opening or closing balance
(ii) Prepared on an accrual basis
(iii) Records only Revenue Items
(iv) Relevant only to the current year
Do you agree or disagree with the following statements:
All receipts are the items of revenue income.
