Question

Sports expenses ₹ 27,000 (excluding ₹ 7,000 unpaid expenses). The amount to be credited to Receipts and Payments Account will be:

Options

• ₹ 20,000

• ₹ 27,000

• ₹ 7,000

• ₹ 34,000

Answer 1

₹ 27,000

Explanation:

Receipt and Payments Account shows transactions and events that were received or paid in cash.