___________ is just like a profit and loss account prepared on accrual basis in case of the business organisations.
Trading account
Profit and loss account
Suspense account
Income and expenditure account
The income of subscription is arrived from
With the adjustment of advance and outstanding
Without the adjustment of advance and outstanding
Current years subscription is only taken
None of the above
Receipts and payments account is a ___________ account.
Real
Personal
Nominal
None of these
__________ is debited with all items of receipts and credited with all payments.
Receipts and payments account
Balance sheet
Non profit making concerns follow the _________ system of accounting.
Ledger
Cash
Journal
Trading
___________ is usually prepared annually.
Life membership is
Revenue
Capital
Profit
Receipt and payment account is begin with
Opening cash only
Opening bank balance only
Opening cash and bank or overdraft
The final balance in ____________ represents the balance of cash in hand or at the bank or overdraft.
__________ is to know about the sources and application of funds.
