Receipt and payments account of a non-profit making organization is principally a summary of the?
Question 1 Report
Receipt and payments account of a non-profit making organization is principally a summary of the?
Answer Details
Receipts and payments account of a non-profit making organization is principally a summary of the cash book entries. It is a statement of cash and bank transactions that shows the total amount of money received and paid out by the organization during a specific period of time, typically a year. It includes all the cash and bank transactions, both revenue and capital, but excludes non-cash items such as depreciation, provisions, and accruals. The receipts and payments account provides a summary of the organization's cash position and helps to monitor cash flow.
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