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प्रश्न
State whether the following statement is True or False.
Receipts and Payments Account do not have any opening balance.
विकल्प
True
False
MCQ
सत्य या असत्य
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उत्तर
False
Explanation: Receipts and Payments Account is a summary of transactions appearing in the Cash Book. It is prepared by not-for-profit organisations at the end of an accounting year. It is a real account, wherein receipts are recorded on the debit side and payments on the credit side. It usually has an opening balance i.e. cash balance and bank balance.
shaalaa.com
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