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  • Partnership and Not-for-Profit Accounting
  • In receipts and payments a/c
Multiple choice

In receipts and payments a/c

  1. all the expenses and income is shown

  2. only the cash receipts and cash payments are shown

  3. all the assets are shown

  4. liabilities are shown

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

The incoming and outgoing cash (receipts and payments) whether of the current year or previous year is shown in receipts and payments A/c.

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