What is the main difference between receipts an... - SS2 Accounting Differences Between Receipts And Payment Accounts And Income And Expenditure Question

Receipts and payments accounts are cash-based, while income and expenditure accounts are accrual-based.

Receipts and payments accounts only show income earned and expenses incurred, while income and expenditure accounts show all cash inflows and outflows.

Receipts and payments accounts show the actual cash balance of an organization, while income and expenditure accounts show the financial performance of the organization.

None of the above.