The correct answer is A. Receipt and Payment A/c.
A receipt and payment account is a financial statement that records all cash receipts and payments for a specific period of time. It is used by both businesses and individuals to track their cash flow.
A receipt is a document that shows that money has been received. It can be a cash receipt, a check receipt, or a credit card receipt. A payment is a document that shows that money has been paid out. It can be a check, a credit card statement, or a bank statement.
The receipt and payment account is a simple way to track your cash flow. It can help you to see where your money is going and to make sure that you are not spending more than you earn.
The other options are incorrect because they are not used to record cash transactions by non-trading concerns.
- Income and expenditure account is used to record the income and expenditure of a business.
- Profit and loss account is used to calculate the profit or loss of a business.
- Manufacturing account is used to calculate the cost of goods manufactured by a business.