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True or false with reason Receipt and payment account is a summary of all capital receipts and payments
Answers (14)
Thread Starter
Samarth KshatriyaWhat reason should be written in exam for this question
Receipt and payment account is a summary of all the cash transactions irrespective of whether they are capital or revenue in nature. It's a form of cash account
Thread Starter
Samarth KshatriyaBut i still not understand the proper difference between my question and ur answer So please can u elaborate it shortly
Question didn't consider the revenue receipts and payments