Chapter: Accounts of 'Not for Profit' Concerns· Book-Keeping & Accountancy

Do you agree or disagree with the statement: Receipts and Payments Account is a Real Account.

Q.1 (D) (iv) Do you agree or disagree with the statement: Receipts and Payments Account is a Real Account.

Doubtly Asked 29 Oct 2026 Board exam · July 2025 hsc 12th Save WhatsApp Report

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Answer: Agree

The Receipts and Payments Account is a summary of the cash and bank transactions of the year. Like the Cash Book it records cash, which is an asset, so it is a Real Account.

Doubtly AI · 29 Oct 2026 AI-generated · not yet verified Report

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Do you agree or disagree with the statement: Receipts and Payments Account is a Real Account.

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