Accountancy Part AAccounts for Non Profit Organsiation

Receipt and Payment Account is a summary of:-

Answer & explanation

Correct answer: option 1

The correct answer is Option (1) → Cash and Bank transactions

Note: This question is from the pre-rationalised NCERT book. The topic is not there in the latest NCERT book (2026-27), but it is still in the CUET 2026 syllabus, so do not skip it.

NCERT (Pre-rationalised edition):
Receipt and Payment Account – “It is prepared at the end of the accounting year on the basis of cash receipts and cash payments recorded in the cash book. It is a summary of cash and bank transactions under various heads.”