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प्रश्न
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.
पर्याय
Receipts and Payments Account
Income and Expenditure Account
Balance Sheet
None of these
उत्तर
Receipts and Payments Account
Explanation:
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) and to show the receipts and payments under different heads for the accounting year.
APPEARS IN
संबंधित प्रश्न
State five uses of Receipts and Payments account.
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.
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.
What is Receipts and Payments Account?
