Question

The summary of cash and bank transactions shows:

• A. Cash A/c
• B. Bank A/c
• C. Receipts and Payments A/c
• D. Bank overdraft

Hint:

Receipts and Payments A/c = summary of cash and bank → includes all items, not restricted to revenue or current year only.

Answer 1

The Correct Option is C

Step 1: Cash and bank transaction records.
Cash A/c and Bank A/c record daily transactions, but they are individual accounts. For a summary, we need a combined account.
Step 2: Receipts and Payments A/c.
Receipts and Payments A/c is a summary of all cash and bank transactions (whether capital or revenue, current year or previous year).
Step 3: Conclude.
Thus, the summary of cash and bank transactions is shown in Receipts and Payments A/c.
Final Answer: \[ \boxed{\text{Receipts and Payments A/c}} \]