Interested to Buy Any Domain ? << Click Here >> for more details...
Briefly explain the difference between receipt & payment and
income & expenditure account.
- 3 Answers
- 10186 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Receipt & Payment is the abstract of movement of funds
during an accounting period - It covers all Payments &
Receipts by cash & through bank. It shows net inflow or out
flow of money during that period
Where as Income & Expenditure is the abstract of operations
during an accounting period. It covers all income & expenses
related to that period, whether or not it is paid in that
period. It shows excess of Income over expenditure or excess
of expenditure over income during that period.
| Is This Answer Correct ? | 18 Yes | 1 No |
Answer / aparna tiwari
receipt& paymnet a/c is a cash a/c whereas income &
expenditure a/c is a P/l a/c.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / arjun
income and expenditure a/c is based on accruel basis while
receipts and payment ac is based on cash basis.
| Is This Answer Correct ? | 2 Yes | 0 No |
A business sold goods valued at R1000 excluding vat on credit to a customer. What would be the debit to the customers account if vat is 14% ?
what is the journal entry for : cheque received from Mr A and sent for collection.
in how many days employees dues should be paid.
What is the meaning of Stock valuation, and how ?
what TYPE OF INVOICE SHOULD RAISE TO C&F agent ?
if iam paid to insurence jan to jan but, financial year march to march
What does the investment of personal assets by the owner will do?
why should we treat closing stock credit side in trading account , and why the reason the closing stock should not appear in the trial balance ?
3 Answers Capital IQ, XL Dynamics,
My Annual salary 180000/- and house rent income 24000/- and for 2009-10.LIC paid Rs 18000/- annual and 3500/- mediclaim so please explain me with detals how caluclate the tax which is paid to department. Please give all details of calucation.
What is the full form and the application of SAP?
67 Answers DFAS, DynCorp, Ernst Young, Fashion Technology, Haier, LIC, Reliance, SAP Labs, SPS Group,
what is bill payable?
How we can apportuin the prepaid ex., example for jouran voucher
Audit 
