| 1 |
Non-profit seeking organizations prepare |
- A. Manufacturing account
- B. Trading account
- C. Income and expenditure account
- D. Profit and loss account
|
| 2 |
Donation receivedin heavy amount are treated as. |
- A. Revenue
- B. Capitaized
- C. Liability
- D. Assets
|
| 3 |
Income and expenditur eaccount is prepared at the |
- A. Start of the year
- B. Mid of the year
- C. End of the year
- D. At the start and ed of the year
|
| 4 |
Income and expenditure account is credited with all. |
- A. Expenses
- B. Incomes
- C. Assets
- D. Liabilities
|
| 5 |
Purchase of sports material for the club should be treated as. |
- A. Expense
- B. Assets
- C. Income
- D. Liability
|
| 6 |
Subcription received during the current year is. |
- A. An income
- B. An expenditure
- C. An asset
- D. An liability.
|
| 7 |
The account of non trading concern are generally maintained according to. |
- A. Mereantile accounging system
- B. Double entry system of book keeping
- C. Cash accounting system
- D. None of the above
|
| 8 |
The method for preparing the final accounts in trading concerns and non-profit making organizations are |
- A. Same
- B. Different
- C. Easy
- D. Difficult
|
| 9 |
At the end of the year non trading institutions prepare. |
- A. Profit and loss account
- B. Income and expenditure account
- C. Manufacturing account
- D. None of the above
|
| 10 |
Receipts and payments account shows |
- A. Debit and credit balances of ledgers
- B. Incomes and expenditures
- C. Cash receipts and payments
- D. Assets and liabilities
|
