Question 45 of 48
Q.Receipts and Payments account is a :
(a) Personal A/c
(b) Nominal A/c
(c) Representative Personal A/c
(d) Real A/c
Puducherry TnboardTamil Nadu HSC (DGE) Commerce Board 2026MCQ· 1mImportance★★★★★
94% · 45/48 Questions
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Start your 14-day free trial to unlock the full solution →Receipts and Payments account = summarised cash book → real account. Option (d).
The Receipts and Payments account prepared by a not-for-profit organisation is a summary of the cash book for the year, showing all receipts on the debit side and all payments on the credit side (both capital and revenue, and of all periods).
- Because it deals with cash and bank, which are assets, it follows the rule for real accounts — "debit what comes in, credit what goes out." …
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