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Why receipts irrespective of their natureand the period to which they relate are , shown in Receipts and Payments Accounts ? |
Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/receipts-1179271" style="font-weight:bold;" target="_blank" title="Click to know more about RECEIPTS">RECEIPTS</a> and Payments <a href="https://interviewquestions.tuteehub.com/tag/account-25640" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNT">ACCOUNT</a> is a summary of cash and bank transactions of a Not-for-Profit organisation. Sincethe amount received or paid during the accounting period of <a href="https://interviewquestions.tuteehub.com/tag/every-976721" style="font-weight:bold;" target="_blank" title="Click to know more about EVERY">EVERY</a> nature and whether <a href="https://interviewquestions.tuteehub.com/tag/relation-1183220" style="font-weight:bold;" target="_blank" title="Click to know more about RELATION">RELATION</a> to current accounting period or not are recorded in Cash Book, all receipts and payments are shown in the Receipts and Payments Account.</body></html> | |