✓ Board-verified
Accountancy · 2022 · 2 marks
CBSE 2022 · Region 4 · Set 3 · Q1
Distinguish between 'Income and Expenditure Account' and 'Receipts and Payments Account' on the basis of the following : (a) Nature (b) Period
Marking-scheme solution
Basis Receipts and Payments Income and
Account Expenditure Account
(a)
Nature It is the summary of Cash Book. It like profit & loss
account.
(b)
Period Besides current period, Income & Expenditure
Receipts & Payments account account items relate
may also relate to preceding only to current period.
and succeeding period.
Practice Accounting for Not-for-Profit Organisation →All Accounting for Not-for-Profit Organisation questions
More from Accounting for Not-for-Profit Organisation
- List any four items that are considered as Capital items while preparing financial statements of a…2022
- From the following information, calculate the amount of sport's material that will be debited to the Income…2022
- As per Receipts and Payments Account of Kala Club for the year ended 31st March, 2021, subscriptions received…2022
- As per Receipts and Payments Account of Kala Club for the year ended 31st March, 2021, subscriptions received…2022
- From the following 'Receipts and Payments Account of Golden Club for the year ended 31.3.2022, prepare Income…2022
- Present the following information in the Balance Sheet of Wisdom Club as at 3 l st March, 202 l Particulars…2022
- From the following 'Receipts and Payments Account of Golden Club for the year ended 31.3.2022, prepare Income…2022
- From the following 'Receipts and Payments Account of Golden Club for the year ended 31.3.2022, prepare Income…2022
CBSE Class 12 Accountancy past-paper question from the 2022board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.