CBSE  /  Class 12  /  Accountancy  /  Accounting for Not for Profit Organisation

  • 1. 
    Receipts and Payments A/c is a summary of:

  • All Capital Receipts and Payments
  • All Revenue Receipts and Payments
  • All Revenue and Capital Receipts and Payments
  • None of the above

  • 2. 
    Subscription received by a schoblfbr organising annual V function is treated as:

  • Capital Receipt
  • Revenue Receipt
  • Asset
  • Earned Income

  • 3. 
    Out of the following items, which one is shown in the Receipts and Payments Account?

  • Outstanding Salary
  • Depreciation
  • Life Membership Fees
  • Accrued Subscription

  • 4. 
    In case specific fund is maintained, the expenses exceeding the amount of the fluids, should be recorded on:

  • Liabilities side of the Balance Sheet
  • Debit side the Income and Expenditure Account
  • Credit side of the Income and Expenditure Account
  • Assets side of the Balance Sheet

  • 5. 
    All receipts from sale of consumable items are treated as:

  • Capital Receipts
  • Revenue Receipts
  • Both (a) and (b)
  • None of these

  • 6. 
    Capital fUnd is calculated:

  • Income-Expenditure
  • Assets Liabilities
  • Capital + Liabilities
  • None of these

  • 7. 
    Subscription redeved in advance during the current year is:

  • An income
  • An Asset
  • A liability
  • None of these

  • 8. 
    Balance of Income and Expenditure Account shows:

  • Cash in hand
  • Capital Fund
  • Net Profit
  • Excess of Income over Expenditure or Vice Versa

  • 9. 
    Property received as a result of the will of the deceased person is called:

  • Legacy
  • Honorarium
  • Donation
  • Subscription

  • 10. 
    Receipts and Payments Account usually indicates:

  • Surplus
  • Capital Fund
  • Debit Balance
  • Credit Balance
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