Question

Receipts and payments accounts are prepared by ____________a)non trading concern b) public company c) sole trading company d) partnership concern

Answer 1

Receipts and payments account are prepared by non trading company.

It Is for not for profit organization

Answer 2

Answer:

Explanation:

It is prepared by Non trading concern

The following accounts are prepared by NPO'S

1. Receipt and payment account
2. Income and expenditure account
3. Balance sheet (opening & closing)