Question :
A debit closing balance of Receipts and Payments Account show:
Option 1:
Closing balance of cash in hand and bank
Option 2:
Closing balance of capital fund
Option 3:
Balance of net assets
Option 4: Bank overdraft
Answer (1)
25th Jan, 2024
Correct Answer:
Closing balance of cash in hand and bank
Solution : A debit closing balance of Receipts and Payments Account show closing balances of cash in hand and bank. Hence, the correct option is 1.
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