____________ usually begins with opening balance of cash in hand / at bank and ends with balance of cash/ bank balance.
Income and expenditure account
Trading account
Receipts and payments account
Balance sheet
Honorarium is ______________.
Capital expenditure
An expenditure from specified receipt
Revenue expenditure
None of the above
Income and expenditure account is __________ account.
Real account
Personal account
Nominal account
_______________ is a summary of cash and bank transaction under various heads.
Profit and loss account
None of these
__________ is debited with all items of receipts and credited with all payments.
A ___________ is a statement prepared to ascertain the true position of assets and liabilities as on a particular date.
Receipt and payment account is
Entrance fee is
Capital receipt
Revenue receipt
Part of capital fund
___________ are established for the purpose of rendering service.
Non Profit organisation
Company
Partnership
The Not-for-Profit Organisations usually prepare the income and expenditure account and a Balance Sheet with the help of ______________ Account.
Provision for replacement
Receipts and payments
