Concept:A receipts and payments account is a summary of all cash and bank transactions of a not-for-profit organisation.
Explanation:Not-for-profit organisations do not prepare a trading account for cash records.
Instead, they record every cash receipt and every cash payment in a receipts and payments account.
This account starts with the opening cash or bank balance and ends with the closing cash or bank balance.
It covers all cash transactions during the accounting period, irrespective of the period they relate to.
Therefore, it is the correct place where all cash transactions are recorded.
Answer:D. receipts and payments account