Question

features of Receipts and Payments account
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Answer 1

Answer:

• Summary Of Transactions. ...
• Debit And Credit Rule. ...
• No Distinction. ...
• No Double Entry System. ...
• Only Cash Transactions. ...
• No Profit Or Loss. ...
• Base For Income And Expenditure Account.

Answer 2

Explanation:

Some features of receipts and payments method are mentioned below respectively:

•Summary Of Transactions.

•Debit And Credit Rule.

•No Distinction.

•No Double Entry System.

•Only Cash Transactions.

•No Profit Or Loss.

•Base For Income And Expenditure Account.