Multiple Choice
A receipts and payments account is:
A) A summary of the cash and bank transactions for a period
B) Another name for an income and expenditure account
C) Similar to an income statement in reflecting revenue earned and expenses incurred during a period
D) A statement of financial position prepared for a non-profit making organisation
Correct Answer:
Verified
Correct Answer:
Verified
Q1: A club's membership fees account shows a
Q3: A debit balance on an income and
Q4: Calculate the subscription income for the North
Q5: A receipts and payments account is similar
Q6: The accumulated fund represents:<br>A) The shareholders funds
Q7: An income and expenditure account is:<br>A) A
Q8: Calculate the subscription income for the South
Q9: How is the gift of a computer
Q10: I & E a/c 200 x 50
Q11: Which of the following is correct?<br>A) Subscriptions