All revenue receipts and expenditure are shown in –

Related MCQs

• 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)
• (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 accounts includes all receipts and payments of
• Receipts and payment accounts records all receipts and payments of
• ) A Receipts and Payments Account is nothing but a summary of all capital receipts and payments.
• Revenue receipts are shown in —
• Treatment of capital expenditure as revenue expenditure is
• When the benefits of revenue expenditure is available for a period of two or three years, the expenditure is known as-
• The receipts and Payments account records receipts and payment of
• What type of expenditure is shown as asset in balance sheet? Capital expenditure