Advertisements
Advertisements
प्रश्न
The objective of preparing a ______ account is to find out the cash position of the organization.
पर्याय
Receipts and Payment Account
Balance Sheet Account
Trading Account
Trial balance account
उत्तर
The objective of preparing a Receipts and Payment Account account is to find out the cash position of the organization.
Explanation:
Receipts and Payment Accounts are used to determine the cash position since they are a summary of the cash book that includes both cash and bank transactions.
APPEARS IN
संबंधित प्रश्न
All cash payments are recorded on the ______ side of the receipt and payment accounts.
The primary objective of preparing this Account is to find out the cash position, opening and closing balances of cash in hand and at bank.
It alerts the management of a non-trading organisation about decline in cash receipts and increase in cash payments.
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.
It contains both capital and revenue items.
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.
