Advertisements
Advertisements
प्रश्न
Receipts and payments account records receipts and payments of _____________.
पर्याय
Revenue nature only
Capital nature only
Both revenue and capital nature
None of the above
Advertisements
उत्तर
Receipts and payments account records receipts and payments of Both revenue and capital nature.
APPEARS IN
संबंधित प्रश्न
State whether the following statement is True or False.
There is no difference between Receipts and Payment Account and Income and Expenditure Account.
Donation for Scholarship Fund is ______.
Receipts and Payments Account falls under the category of _____ Account.
From the information given below, prepare the Receipts and Payments account of Madurai Mother Theresa Mahalir Mandram for the year ended 31st December, 2018.
| Particulars | ₹ | Particulars | ₹ |
| Cash balance as on 1.1.2018 | 2,000 | Fire Insurance premium paid | 1,500 |
| Bank balance as on 1.1.2018 | 3,000 | Subscription received | 8,500 |
| Sale of old newspapers | 500 | Furniture purchased | 6,000 |
| Stationery purchased | 6,000 | Purchase of newspapers | 700 |
| Audit fees paid | 2,000 | Depreciation on furniture | 900 |
| Entrance fees received | 3,000 | Cash balance as on 31.12.2018 | 2,500 |
| Sundry charges | 6,000 | Conveyance paid | 1,000 |
| Scholarships given | 2,000 | Sale of furniture | 4,000 |
| Interest on investments | 2,000 |
Amount received from 'Special Contribution for Silver Jubilee' by a club should be treated as:
Sports Star Charitable Club has income of ₹ 16,000 and 'deficit' debited to capital fund of ₹ 4,300 for the year 2019-20, then expenditure for 2019-20 is ______.
Sports expenses ₹ 27,000 (excluding ₹ 7,000 unpaid expenses). The amount to be credited to Receipts and Payments Account will be:
If a general donation of smaller amount is received by a school, that donation will be shown on ______.
Features of Income and Expenditure are:
(i) No opening or closing balance
(ii) Prepared on an accrual basis
(iii) Records only Revenue Items
(iv) Relevant only to the current year
Do you agree or disagree with the following statements:
All receipts are the items of revenue income.
