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प्रश्न
What is Receipts and Payments Account?
उत्तर
Receipts and Payments Account is a summary of cash transactions over a specified time period usually one year. It is prepared by non-commercial organisations such as clubs, societies and associations.
APPEARS IN
संबंधित प्रश्न
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.
Receipt and payment account has the following limitation(s).
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.
Mention any two features of Receipts and Payments Account.
