Receipt and payment Account is a summary of -  (A) All capital receipts and payments  (B) All revenue receipts and payments 

Fixed Capital Method

Correct option is: (A) Capital Receipt

Correct option is: (B) Real Account

Correct option is: (B) Revenue expenditure

Correct option is: (B) Cash balance

Correct option is: (C) Life Membership Fees

Correct option is: (B) Capital payment

Correct option is: (A) Personal Account

Correct Answer - Subscription credited to Income and Expenditure Account for the year ended on March 31, 2017 is Rs. 69,000. Subscription Outstanding as on 31.3.2017 is Rs. 5,400 and...

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