Balance of receipts and payments account represents
A) Cash in hand or at bank
B) Surplus
C) Deficit
D) Reserve
Correct Answer:
Verified
Q1: Receipts and payment account contains
A)Only receipts and
Q3: Income and expenditure account is a _
A)Real
B)Nominal
C)Personal
D)None
Q4: Any profit on sale of a cricket
Q5: Educational institutions are
A)Profit organizations
B)Non profit organizations
C)Wealth organization
D)Social
Q6: Non profit organizations trial balance shows
A)Debit
B)Credit
C)Equal balance
D)Suspense
Q7: Receipts and payment accounts, I & E
Q8: Purchase of assets are entered in nonprofit
Q9: Receipts and payment account is a _
Q10: In a non profit organizations cashbook shows_
Q11: Receipts and payment account begins with opening
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