Multiple Choice
Out of the following items, which one is shown in the Receipts and Payments Account:
A) Outstanding Salary
B) Depreciation
C) Life Membership Fees
D) Accrued Subscription
Correct Answer:

Verified
Correct Answer:
Verified
Q46: Outstanding subscription is a/an<br>A)Income<br>B)Asset<br>C)Liability<br>D)None of these
Q47: Credit sales can be ascertained by preparing<br>A)Creditors
Q48: Under single entry system details of<br>A)Expenses will
Q49: Income and Expenditure A/c reveals<br>A)Cash in hand<br>B)Surplus
Q50: Under single entry system, certain transactions are
Q52: The minimum share application money is<br>A)Rs.5 per
Q53: The content of single entry system is<br>A)Double
Q54: When closing capital is more than opening
Q55: Income and Expenditure Account reveals<br>A)Surplus or Deficiency<br>B)Cash
Q56: Credit purchases can be ascertained by preparing<br>A)Creditors