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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


Team Careers360 20th Jan, 2024
Answer (1)
Team Careers360 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.

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