Question :
Which of the following will appear on the debit side of Receipts and Payments Account?
Option 1:
Purchase of furniture
Option 2:
Honorarium paid
Option 3:
Life membership fee received
Option 4: All of these
Answer (1)
22nd Jan, 2024
Correct Answer:
Life membership fee received
Solution : Any income received in cash will come in the debit side of Receipts and Payments Account. For example, life membership fee, etc. Hence, the correct option is 3.
Comments (0)
Related Questions
Trending Articles/News
