Question :
The amount received on the sale of furniture will be shown on:
Option 1: Credit side of Income and Expenditure
Option 2: Debit side of Income and Expenditure Account
Option 3: Debit side of Receipts and Payments Account
Option 4: Credit side of Receipts and Payments Account

Question

Question :

The amount received on the sale of furniture will be shown on:

Option 1: Credit side of Income and Expenditure

Option 2: Debit side of Income and Expenditure Account

Option 3: Debit side of Receipts and Payments Account

Option 4: Credit side of Receipts and Payments Account

Team Careers360 · Accepted Answer

Correct Answer: Debit side of Receipts and Payments Account

Solution : Receipts and Payments Account records all the gains and incomes on the credit side of the not-for-profit organizations. Hence, the correct option is 3.

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Question : The amount received on the sale of furniture will be shown on:Option 1: Credit side of Income and ExpenditureOption 2: Debit side of Income and Expenditure AccountOption 3: Debit side of Receipts and Payments AccountOption 4: Credit side of Receipts and Payments Account

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Question :
The amount received on the sale of furniture will be shown on:
Option 1: Credit side of Income and Expenditure
Option 2: Debit side of Income and Expenditure Account
Option 3: Debit side of Receipts and Payments Account
Option 4: Credit side of Receipts and Payments Account

Question :
The amount received from the sale of old sports

Question :
An account akin to Profit and Loss Account in

Question :
Which of the following will appear on the debit

Question :
Which of the following will appear on the debit

Question :
Which of the following show the debit balance