III True or False19) Receipt and payment Account is a summary of all c – InterviewSolution

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1.	III True or False19) Receipt and payment Account is a summary of all capital receipts and paymentsa nnrts fund, sports expenses will be shown on the debit side of income and
Answer» False"Areceipt and payment accountis a summarized cash book (cash and bank) for a given period". "This is simply asummaryof the cash transactions as in the cash book, analyzed and classified under suitable headings, including the opening and closing balances".

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