The summary of receipts and payments account represe...
The summary of receipts and payments account represent?
Cash at hand
Journal proper
General journal
Ledger accounts
Correct answer is A
A receipts and payments account is a summary of actual cash receipts and payments extracted from the cash book over a certain period. It represents the actual cash at hand.
Use the following to answer the given question \(\begin{array}{c|c} & N \\ \hline sales &am...
In a partnership business, the net profit serves as opening figure for ...
Which of the following is a charge against profit? ...
The excess of income over expenditure is usually transferred to the ...
In a petty cash book the imprest is N1380. Expenses: Stationery N350 Cleaning material N335 Gene...