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True or false with reason Receipt and payment account is a summary of all capital receipts and payments


Samarth Kshatriya

Samarth Kshatriya

CA Foundation

1K+

30-Jun-22 14:51

214

Answers (14)

S


Sai G

Sai G

CA Inter

6K+

30-Jun-22 14:52

False


Avasarala Vivek Aditya

Avasarala Vivek Aditya

CA Inter

6K+

30-Jun-22 14:52

Receipt and payment account is a summary of both capital and revenue receipts and payments


Avasarala Vivek Aditya

Avasarala Vivek Aditya

CA Inter

6K+

30-Jun-22 14:53

What reason should be written in exam for this question


Thread Starter

Samarth Kshatriya

Samarth Kshatriya

CA Foundation

1K+

30-Jun-22 14:56

Thread Starter

Samarth Kshatriya

What 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


Avasarala Vivek Aditya

Avasarala Vivek Aditya

CA Inter

6K+

30-Jun-22 14:58

But i still not understand the proper difference between my question and ur answer So please can u elaborate it shortly


Thread Starter

Samarth Kshatriya

Samarth Kshatriya

CA Foundation

1K+

30-Jun-22 15:05

As per your question, receipt and payment account is only a summary of capital receipt and payment but in fact, it is a record of all cash transactions irrespective of it's nature either capital or revenue


Manoj Raj

Manoj Raj

CA Final

12K+

30-Jun-22 15:08

Thread Starter

Samarth Kshatriya

But 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


Avasarala Vivek Aditya

Avasarala Vivek Aditya

CA Inter

6K+

30-Jun-22 15:09

Avasarala Vivek Aditya

Yes Good one bro Tq

Thanks to u bro


Thread Starter

Samarth Kshatriya

Samarth Kshatriya

CA Foundation

1K+

30-Jun-22 15:11

Most welcome brothers


Manoj Raj

Manoj Raj

CA Final

12K+

30-Jun-22 15:12

Ni


Rishi Kumar

Rishi Kumar

CMA Inter

6K+

09-Jul-22 08:12

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