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The Receipts and Payments Account is a s...

The Receipts and Payments Account is a summary of :
debit and credit balance of ledger accounts
cash receipts and payments
expenses and incomes
assets and liabilities

A

Debit and Credit balance of Ledger Accounts

B

Cash Receipts and Payments

C

Expenses and Incomes

D

Assets and Liabilities

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Verified by Experts

The correct Answer is:
B
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DK GOEL-Financial Statements of Not-for-Profit Organisations-Multiple Choice Questions
  1. Out of following items. which one is shown in the Receipts and Payment...

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  2. Not-for-profit organisations prepare :

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  3. The Receipts and Payments Account is a summary of : debit and credit ...

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  4. Receipts and Payments Account is a :

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  5. Income and Expenditure Account is a :

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  6. Credit side balance in Income & Expenditure Account reveals :

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  7. Source of income for a not-for-profit organisation is :

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  8. Which of the following represent capital receipt :

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  9. Amount received from sale of grass by a club should be treated as: ca...

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  10. The amount received for sale of old sports materials by a Non-profit o...

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  11. If there is a 'Match Fund', then match expenses and incomes are transf...

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  12. Subscription received in advance during the current year is :

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  13. Subscription received in cash during the year amounted to Rs 40,000, s...

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  14. Subsription received in cash during the year amounted to Rs 5,00,000, ...

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  15. Subscription received in cash during the year amounted to Rs 60,000, s...

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  16. Subscription received in cash during the year amounted to Rs 3,00,000,...

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  17. What amount will be credited to the lncome and Expenditure Account for...

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  18. There are 200 members, each paying an annual subscription of Rs 1,000,...

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  19. The opening balance of Prize Fund was Rs 32,800. During the year, dona...

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  20. Salary paid in cash during the current year was Rs 80,000, Outstanding...

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