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Explain the meaning of reciept and …

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Explain the meaning of reciept and payment account

Posted by Vikram Pandey 5 years, 3 months ago

CBSE > Class 12 > Accountancy

3 answers

Harshit Pandit 5 years, 3 months ago

The receipt and payment account summarise receipts and payment made by a non-trading concern during a particular period of time (usually one year)......... And it's importance: It is used to prepare Income and Expenditure Account of non-trading concern...

Naveen Prasath 5 years, 3 months ago

It records only current year not succeding year

Aaiman Farhin 5 years, 3 months ago

Reciept and payment account is a summary of cash book.

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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