Income ad Expenditure Account is prepared on (a)_________ basis, while Receipts and Payments Account is prepared on (b)_________ basis. Option 1: (a) Cash (b) Accrual Option 2: (a) Cash (b) Credit Option 3: (a) Accrual (b) Cash Option 4: (a) Permanant (b) Temporary

The answer is '(a) Accrual (b) Cash'. View full solution:

CUET Accountancy - Income ad Expenditure Account is prepared on (a)_________ basis, while Receipts and Payments Account is prepared on (b)_________ basis. | PYQs + Solutions

CUET Accountancy 2022 20 July Shift 1

Financial Statements

Easy

(a) Cash (b) Accrual

(a) Cash (b) Credit

(a) Accrual (b) Cash

(a) Permanant (b) Temporary

✅ Correct Option: 3

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