Receipt and Payment A/c is an abbreviate form of:

The correct answer is: D. None of these

Receipt and Payment Account (R&P Account) is a book of original entry used to record all cash and bank transactions of a business. It is a summary of all the receipts and payments made by the business during a specific period of time.

Cash book is a book of original entry used to record all cash transactions of a business. It is a chronological record of all cash receipts and payments made by

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