| 1 |
Donation receivedin heavy amount are treated as. |
- A. Revenue
- B. Capitaized
- C. Liability
- D. Assets
|
| 2 |
Receipts and payments account records the transactions of |
- A. Revenue nature
- B. Capital nature
- C. Revenue and capital nature
- D. None of these
|
| 3 |
Income and expenditur eaccount is prepared on. |
- A. Cash basis
- B. Accrual basis
- C. Cahs of accural basis
- D. None of these
|
| 4 |
Subscription Received in advance is. |
- A. An income
- B. An assets
- C. Liability
- D. An expenditure
|
| 5 |
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
|
| 6 |
Receipt and payment account starts with the. |
- A. Opening balance
- B. Ending balance
- C. Beginning or ending balance
- D. None of these
|
| 7 |
Receipts and payments accounts records transaction relating to. |
- A. Current year
- B. Past year
- C. future year
- D. All of the above
|
| 8 |
Purchase of sports material for the club should be treated as. |
- A. Expense
- B. Assets
- C. Income
- D. Liability
|
| 9 |
Credit side of iincome and expenditure account records. |
- A. Expenses and losses
- B. Income and gains
- C. Assets
- D. Liabilities
|
| 10 |
Income and expenditure account is equivalent to the. |
- A. Receipt and payment account
- B. Balance sheet
- C. Cash book
- D. Profit and loss account
|
