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Accountancy · 2022 · 2 marks
CBSE 2022 · Region 4 · Set 1 · Q1
Distinguish between 'Income and Expenditure Account' and 'Receipts and Payments Account' on the basis of the following: (a) Depreciation (b) Opening…
Distinguish between 'Income and Expenditure Account' and 'Receipts and Payments Account' on the basis of the following : (a) Depreciation (b) Opening Balance
Marking-scheme solution
Basis Receipts and Payments Income and
Account Expenditure Account
Depreciation Depreciation is not included in Income and expenditure
receipts and payments a/c. account does include
Depreciation.
Opening balance Balance in the beginning There is no opening
represents cash in hand/cash at balance.
bank/ bank overdraft in the
beginning.
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CBSE Class 12 Accountancy past-paper question from the 2022 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.