Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounts for Non Profit Organsiation

Question:
In which book all the receipts and payments are duly recorded?
Options:
Pass book
General book
Cash book
All of these
Correct Answer:
Cash book
Explanation:
In NPO'S are required by law to keep proper accounting records and keep proper control over the utilization of their funds. This is why they usually keep a cash book in which all receipts and payments are recorded. Because most of the transaction are in cash or through the bank.