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प्रश्न
Give one difference between Receipts and Payments Account and Cash Book.
उत्तर
| S. No. | Basis of Distinction | Receipts and Payments Account | Cash Book |
| 1. | Purpose | To facilitate preparation of Income and Expenditure Account and Balance sheet. | To provide a permanent record of all cash transaction and to know cash balance at the end. |
| 2. | Preparing entity | It is prepared by non-trading organisations only. | It is prepared by both trading and non-trading organisations. |
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संबंधित प्रश्न
The objective of preparing a ______ account is to find out the cash position of the organization.
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.
Receipt and payment account has the following limitation(s).
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.
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.
