Accountancy, asked by rakeshnani4897, 11 months ago

State the basis of accounting of receipts and payment account in case of npo

Answers

Answered by rohitsharma6715
1

Answer:

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Answered by yaminibisht97
0
Receipts and Payments Account is a real account showing summary of all cash and bank transactions occurred during the accounting year. It is prepared at the end of the accounting year. ... For example, entrance fees received from the members on different dates appear on the debit side of the cash book on respective dates.
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