Which one of the following items, is shown in the Receipts and payments account ?
(A) Outstanding Salary
(B) Depreciation
(C) Life Membership Fees
(D) Accrued Subscription
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i. The account on which overdraft facility is allowed by the bank. ii. Extract of ledger account of the account holder in the books of the bank.
i. Current Account ii. Pass Book iii. IFSC (Indian Financial System Code) iv. Bank Reconciliation Statement v. Overdraft as per Pass Book
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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 is a - (A) Personal Account (B) Real Account (C) Nominal Account
Correct option is: (B) Real Account
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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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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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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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All items of indirect income are shown on the credit side of the _________ Account.
Correct option is (b) Profit and Loss
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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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Receipts are shown on the ……… side in the budget.
(A) left hand
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