Advertisements
Advertisements
प्रश्न
It is a summary of cash transactions. It is prepared to ascertain the cash balance at the end of the accounting year.
पर्याय
Receipts and Payments Account
Income and Expenditure Account
Balance Sheet
None of these
उत्तर
Receipts and Payments Account
Explanation:
The Receipts and Payments Account is a summary of all cash transactions made by an organization over a specific period, usually an accounting year.
APPEARS IN
संबंधित प्रश्न
The objective of preparing a ______ account is to find out the cash position of the organization.
Write any two features of the Receipt and Payment Account.
State five uses of Receipts and Payments account.
In receipt and payment account opening balance of cash in hand, cash at bank and all cash receipts are shown on the ______ side.
All cash payments are recorded on the ______ side of the receipt and payment accounts.
It alerts the management of a non-trading organisation about decline in cash receipts and increase in cash payments.
Its balance at the end shows the cash in hand and at bank (or overdraft) at the end of the year.
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.
What is Receipts and Payments Account?
