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easyMCQCUET Accountancy 2023 11 June Shift 32026Accountancy
1 mark

Non-Cash transactions will be excluded from:

  1. A
    Receipt and Payment A/c
  2. B
    Balance Sheet
  3. C
    Profit and loss A/c
  4. D
    Income and Expenditure A/c

Solution & Step-by-step Explanation

A Receipt and Payment Account is a summary of actual cash and bank transactions prepared on a cash basis of accounting. Consequently, non-cash items such as depreciation or outstanding provisions are strictly excluded from it.

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Non-Cash transactions will be excluded from:
A
Receipt and Payment A/c
B
Balance Sheet
C
Profit and loss A/c
D
Income and Expenditure A/c

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