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Question
Receipts and payments account is a _________.
Options
Nominal A/c
Real A/c
Personal A/c
Representative personal account
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Solution
Receipts and payments account is a Real A/c.
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RELATED QUESTIONS
Write the word/phrase/term, which can substitute the following sentence.
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| Particulars | ₹ | Particulars | ₹ |
| Cash in hand (1.1.2018) | 4,000 | Paid for printing charges | 2,500 |
| Salaries paid | 3,000 | Lockers rent received | 1,000 |
| Life membership fees received | 10,000 | Tournament receipts | 14,000 |
| Subscription received | 15,000 | Tournament receipts | 10,500 |
| Rent received | 2,000 | Investments purchased | 25,000 |
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