In Receipt and Payment Account, the debit side shows receipts and the credit side shows payments. If credit (payments) exceeds debit (receipts), it means more has been paid than received, resulting in a Bank Overdraft (negative bank balance).
If the credit side of Receipt and Payment A/c is more than the debit side then the difference will be shown as :
CUET UG 2023 — Accountancy Financial Statements
2023mcqmedium
If the credit side of Receipt and Payment A/c is more than the debit side then the difference will be shown as :
Official previous-year question
Held on 11 Jun 2023 · Verified 13 Jul 2026.
Options
- A
Bank Overdraft
- B
Commission
- C
Bank charges
- D
Interest
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