On what basis the receipts and payments account is prepared?

Q. Receipts and Payments Account is prepared on -
(I) Accrual basis of accounting
(II) Cash basis of accounting
(III) Hybrid basis of accounting
The correct answer is -

Q. The Receipts and Payment account is prepared at the _______ of the accounting year on the basis of cash receipts and cash payments recorded in the _______ book.

Q. State whether the following statement is 'True' or 'False':
Accrual concepts implies accounting on cash basis.