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What is the main difference between Receipts and Payments Account and Income and Expenditure Account?a)The former is based on accrual accounting.b)The latter includes capital transactions.c)The former includes both capital and revenue transactions.d)The latter starts with an opening balance.Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about What is the main difference between Receipts and Payments Account and Income and Expenditure Account?a)The former is based on accrual accounting.b)The latter includes capital transactions.c)The former includes both capital and revenue transactions.d)The latter starts with an opening balance.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the main difference between Receipts and Payments Account and Income and Expenditure Account?a)The former is based on accrual accounting.b)The latter includes capital transactions.c)The former includes both capital and revenue transactions.d)The latter starts with an opening balance.Correct answer is option 'C'. Can you explain this answer?.

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