Receipts and Payments Account generally shows:

A debit balance

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A credit balance

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Surplus or Deficit

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Capital Fund

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Solution

The correct option is A
A debit balance

Receipts and Payments Account generally shows a debit balance.

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Similar questions

Q. (I) In Receipt & Payment A/c all receipts and payments are shown irrespective of the year to which they pertain.
(II) The difference at Dr. side of Receipt & Payment A/c account is known as surplus or deficit and deducted from capital fund.
(III) Income & Expenditure A/c is always accompained by balance sheet.

Select the correct answer.

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Q. Which of the following statement is correct and which is incorrect ?
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(II) The difference at Dr. side of Receipt & Payment A/c account is known as surplus or deficit and deducted from capital fund.
(III) Income & Expenditure A/c is always accompanied by balance sheet.
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Q. Are the following entered (i) on the credit side or the debit side and (ii) in the current account or capital account in the Balance of Payments account? You must give reason for your answer.
(a) Investments from abroad.
(b) Transfer of funds to relatives abroad.

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Receipts and Payments Account generally shows:

The correct option is A A debit balance Receipts and Payments Account generally shows a debit balance.

The correct option is A
A debit balance

Receipts and Payments Account generally shows a debit balance.