Chapter-1 ➤ Accounting for Not for Profit Organisation 1. All receipts of capital nature are shown in : Income and Expenditure A/c Balance Sheet P. & L. A/c None of these 2. Which of the following is a non-profitable organisation ? Jharkhand Academic Council Tata Steel Air India Reliance Co. Ltd. 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. Income and Expenditure Account is preparedly : Trending Organisation Non-trading Organisation None of these 5. The main object of non-profit organisation is: To earn Profit To Serve the Society To Prepare Profit & Loss A/c All the above 6. 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 7. Outstanding subscription is a: Income Asset Income and Asset Both None of these 8. Income and Expenditure Account generally indicates: Surplus/Deficit Cash Balance Capital Fund Net Profit/Loss 9. Payment of honorarium to secretary is treated as : Capital expenditure Revenue expenditure An Income None of these 10. Sale of old newspapers is: Capital Receipt Revenue Receipt Asset Profit Loading … Question 1 of 10
