Balance of Receipts and payments account indicates the ________.
A. Loss incurred during the period
B. Excess of income over expenditure of the period
C. Total cash payments during the period
D. Cash and bank balance as on the date
Answer:D
Balance of Receipts and payments account indicates the ________.
A. Loss incurred during the period B. Excess of income over expenditure of the period C. Total cash payments during the period D. Cash and bank balance as on the date