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  • Accounting for Non-profit Organisations
  • Receipt and payment account is ______ in nature.
Multiple choice

Receipt and payment account is ______ in nature.

  1. real account

  2. personal account

  3. representative personal account

  4. nominal account

  5. None of these

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Receipt and payment account is real account because the receipts are debited and payments are credited.

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