Receipts and Payments Account is a : Sol:

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
• ) A Receipts and Payments Account is nothing but a summary of all capital receipts and payments.
• 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)
• The receipts and Payments account records receipts and payment of
• A Receipts and Payments Account record only non-cash items. Sol:
• Out of the following items, which one is shown in the Receipts and Payments Account? Sol:
• Receipts and Payments Account usually indicates: Sol:
• Receipts and payment accounts includes all receipts and payments of
• Receipts and payment accounts records all receipts and payments of
• Which of the following statements is/are true? (i) Cash Book records all cash receipts and cash payments (ii) Cash Book records all sale and purchase transactions of goods both in cash and on credit (iii) Cash Book records discount on Cash Payments