Receipts and payment account contains

Related MCQs

• Which of the following statements is/are true? (i) Drawings Account is a Nominal Account (ii) Capital Account is a Real Account (iii) Sales Account is a Nominal Account (iv) Outstanding salaries account is a Nominal Account (v) Patents Account is a Personal Account
• The receipts and Payments account records receipts and payment of
• Match List I (Financial Statements and Accounts) with List II (special matters associated with statements and accounts) and select the correct answer using the codes given below the lists: List I List II i) Receipts and Payments Account I. Revenue ii) Income and Expenditure Account II. Cash iii) Club subscription received in III. Liability Advance Account Codes:(i) (ii) (iii)
• Receipts and payment accounts includes all receipts and payments of
• Receipts and payment accounts records all receipts and payments of
• (i) Salaries as per Income and Expenditure Account Rs.1,500 (ii) Salaries paid in advance in previous year Rs.700 (iii) Salary outstanding at the end of current year Rs.300 (iv) Salary outstanding at the end of previous year Rs.800 From the above information given, the amount of salaries to be shown in Receipts and Payment Account can be valued at
• Receipts and payment account is a ________ account
• ) A Receipts and Payments Account is nothing but a summary of all capital receipts and payments.
• Receipts and payment accounts, I & E account and balance sheet are the financial statement of
• Receipts and payment account begins with opening balance of