What is a receipts and payment account used for - SS2 Accounting Receipts And Payment Account: Features And Limitations Question
What is a receipts and payment account used for?
A
To record all financial transactions, including non-cash transactions.
B
To track the organization's cash flow and provide an overview of its financial position.
C
To prepare detailed financial statements.
D
To provide information on the organization's assets, liabilities, and equity.
correct option: b
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