If the credit side of Receipt and Payment A/c is more than the debit side then the difference will be shown as: (
This question was previously asked in
Shift 11/06/2023 3:30 PM - 6:30 PM
A
Bank Overdraft
B
Commission
C
Bank charges
D
Interest
Correct Answer
Bank Overdraft
Detailed Explanation
If the credit side of the Receipt and Payment Account is more than the debit side, the difference will typically be shown as "Bank Overdraft."
This indicates that the organization has more cash payments and fewer cash receipts during the accounting period,
resulting in a negative cash balance or a bank overdraft.
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