Question

Which of the following statements is correct?

(a) There is no difference between Cash Book and Receipts and Payments Account

(b) Receipts and Payments Account is prepared after Cash Book

(c) Receipts and Payments Account is maintained by Non- trading concern where as Cash Book is maintained by Trading concern

(d) Receipts and Payment Account is prepared before Cash Book

Answer 1

Correct option is : (c) Receipts and Payments Account is maintained by Non- trading concern where as Cash Book is maintained by Trading concern