Receipts and Payments Account usually indicates mdash ........

General Accounting Principles Not for profit organisation

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Receipts and Payments Account usually indicates—

Surplus

Capital Fund

Debit Balance

Credit Balance

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Explanation:

The receipts and payments account summarizes receipts and payments made by a non-trading concern during a particular period of time (usually one year). Its is used to prepare income and expenditure a/c of non trading concerns. Receipts and Payments Account usually indicates Debit Balance.