Receipts and payments Account is a -
(A) Personal Account
(B) Real Account
(C) Nominal Account
(D) None of these
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Indian investors lend abroad. Answer the following questions (a) In which sub-account and on which side of the Balance of Payments Account such lendin
(i) Indians lending abroad is recorded in Capital Account of BOP Account because it leads to creation of foreign exchange assets. It is recorded on the debit side because it...
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Receipts and Payments Account usually indicates - (A) Surplus/deficit (B) Cash balance (C) Capital fund (D) Net profit/loss
Correct option is: (B) Cash balance
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Which one of the following items, is shown in the Receipts and payments account ?
Correct option is: (C) Life Membership Fees
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Receipt and payment Account is a summary of - (A) All capital receipts and payments (B) All revenue receipts and payments
Correct option is: (C) All revenue and capital receipts and payments
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Current Account is - (A) Personal Account (B) Real Account (C) Nominal Account (D) None of these
Correct option is: (A) Personal Account
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Realisation Account is - (A) Personal A/C (B) Nominal A/C (C) Real A/C (D) None of these
Correct option is: (B) Nominal A/C
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Premium on Redemption of Debenture A/C is - (A) Personal account (B) Real account (C) Nominal account
Correct option is: (D) Suspense account
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State whether the following statements are True or False (i) Receipts and Payments Account shows the receipts and payments of revenue nature only. (ii
Correct Answer - (i) False; (ii) False; (iii) True; (iv) False; (v) True (vi) True (vii) False (viii) True (ix) False (x) True (xi) True (xii) True
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Amount withdrawn by the owner for his personal expenses is called __________ (a) Drawings (b) Personal expenses (c) Cash (d) Assets
Correct option is (a) Drawings
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\[ \begin{array}{l} \text { Part - II } \\ \text { Section - D } \end{array} \] Note: answer the following question. 18. From following receipts and payments A/C of Sri Charitable Trust, \[ 1 \times 20=20 \] Additional information A. Subscriptions receivable for the year 2020 R5 2,500 B. Prepaid Rent Rs. 300 C. Outstanding stationary Bills Rs. 150 D. Capitalize donations E. Half of the entrance fees capitalized Interest receivable for the year \( 2020 Rs .200 \)
receipts. rs. payment. rs to donation. 25,000 by rent and taxes. 1300 to membership 1500 by startionary. 1200 fees to entrance fees 2400. byscholar ship 200 to...
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