Advertisements
Advertisements
Question
The nature of Receipts and Payments Account is ______.
Options
Nominal Account
Real Account
Personal Account
None of the above
MCQ
Fill in the Blanks
Advertisements
Solution
The nature of Receipts and Payments Account is Real Account.
Explanation:
It's a real account because it's a summary of cash receipts and payments, as well as the bank balance.
shaalaa.com
Is there an error in this question or solution?
