Question 31
Not-for-Profit OrganisationsReceipts and payments account discloses
- A.debtors
- B.creditors
- C.prepayment
- D.depreciation
Show the answer and explanation
Answer: C (prepayment)
Explanation
A receipts and payments account records all cash paid, including amounts paid in advance, while debtors, creditors and depreciation involve no cash.