CBSE Class 12 Accountancy Accounting for Not for Profit Organisation Online Test

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Question 1

Question

Which of the following statements is not true for Receipts and Payments Account?

	Answer
	The receipts and payments may relate to current, preceding, or succeeding accounting periods
	It records receipts and payments of revenue nature only
	It is a summary of the Cash Book
	Depreciation is not shown in it