Q The account which shows the classified summary of transactions of a cash book in a non-trading concern is known as ______.


A. Trading A/C
B. Profit and Loss Appropriatioin A/C
C. Receipt Payment A/C
D. Trading and P/L A/C

Correct Answer: C

Explanation:
The account which shows the classified summary of transactions of a cash book in a non-trading concern is known as the **receipts and payments account**. This account summarizes all cash receipts and payments made by a non-trading organization (such as clubs, charities, or societies) during a specific period, similar to how a cash flow statement operates in a trading concern.

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