Question :
Receipts and Payments Account shows receipts and payments of:
Option 1:
Capital nature received during the year
Option 2:
Revenue nature received during the year
Option 3:
Both 1 and 2
Option 4: None of these
Answer (1)
20th Jan, 2024
Correct Answer:
Both 1 and 2
Solution : Receipts and Payments Account shows receipts and payments of capital nature and revenue nature received of an NPO received in cash only. Hence, the correct option is 3.
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