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प्रश्न
Its balance at the end shows the cash in hand and at bank (or overdraft) at the end of the 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 balance at the end of the year reflects the cash in hand and at the bank (or in overdraft). This account describes all cash transactions during the accounting period, including all receipts and payments. It provides a clear view of the organization's cash flow and liquidity position at the end of the year.
APPEARS IN
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).
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.
What is Receipts and Payments Account?
