| 1 |
Accured subscripttion represents. |
- A. An expense
- B. An income
- C. An asset
- D. A liability.
|
| 2 |
Non-profit making organizations |
- A. Buy goods
- B. Manufacture goods
- C. Sell goods
- D. None of these
|
| 3 |
If the debit side of the recipt and payment account exceeds the credit side it represents. |
- A. Bank over draft
- B. Cash at bank
- C. Surplus balnce
- D. Deficit balance
|
| 4 |
The excess of total assets over total liabilituies of a concern is called. |
- A. Surplus
- B. Deficit
- C. Capital fund
- D. Profit
|
| 5 |
Non-profit seeking organization income and expenditure account performs the same function as profit seeking organization's |
- A. Trading and profit and loss account
- B. Balance sheet
- C. Bank account
- D. Petty cash book
|
| 6 |
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
|
| 7 |
Non-profit making organizations are established for |
- A. Profit
- B. Charitable or religious purpose
- C. To manufacture goods
- D. To help the rich people
|
| 8 |
Donation receivedin heavy amount are treated as. |
- A. Revenue
- B. Capitaized
- C. Liability
- D. Assets
|
| 9 |
Non-profit seeking organizations prepare |
- A. Manufacturing account
- B. Trading account
- C. Income and expenditure account
- D. Profit and loss account
|
| 10 |
The main sources of income of for on -trading concern is. |
- A. Subscriptions
- B. Donations
- C. Sales
- D. Dividends on investment
|
