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प्रश्न
What is receipts and payments account?
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उत्तर
Receipts and Payments account is a summary of cash and bank transactions of not-for-profit organisations prepared at the end of each financial year.
It is a real account in nature. The receipts and payments account begins with the opening balances of cash and bank and ends with closing balances of cash and bank. All cash receipts are shown on the debit side and all cash payments are shown on the credit side of this account. All cash receipts and cash payments whether of capital or revenue nature will be recorded irrespective of the period for which the amount is received or paid, it is recorded if cash is received or paid during the year.
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संबंधित प्रश्न
Donation for Scholarship Fund is ______.
The closing balance of Receipts and Payments account usually represent _______.
Write the word/phrase/term, which can substitute the following sentence.
All such receipts which are non-recurring in nature and not forming a part a regular flow of income.
In Receipts and Payments Account the summary of _____ transactions are recorded.
Receipts and payments account records receipts and payments of _____________.
Give four examples for revenue receipts of the not-for-profit organisation.
Which of the following represents capital receipt?
The amount received from the sale of grass by a club should be treated as ______
If a general donation of smaller amount is received by a school, that donation will be shown on ______.
Payment of Honorarium of Secretary is a ______.
