___________ is a real account.
Receipts and payments account
Income and expenditure account
Profit and loss account
None of these
____________ is prepared in the form of a profit and loss account.
Balance sheet
____________ is records all receipts and payments relating to previous, current and subsequent years.
Trading account
Receipts and payment account
_______________ account is prepared at the end of the accountiong year on the basis of cash receipts and cash payments recorded in the cash book.
Legacy is ___________
Revenue income
General donation
Special donation
Income and expenditure account is __________ account.
Real account
Personal account
None of the above
Nominal account
Receipt and payment account is begin with
Opening cash only
Opening bank balance only
Opening cash and bank or overdraft
___________ records only actual receipts and payments.
The surplus or deficit is transferred to __________.
Capital fund
Cash account
Ledger account
______________ is to ascertain the excess of assets over external liabilities.
