| 1 |
In non-profit making organization final accounts contains |
- A. Income and expenditure account and balance sheet
- B. Receipts and payments account and balance sheet
- C. Receipts and payments account and statement of affairs
- D. Profit and loss account and balance sheet
|
| 2 |
Income and expenditure account records the transactions of |
- A. Revenue nature
- B. Capital nature
- C. Revenue and capital nature
- D. None of the these
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| 3 |
Income and expenditure account is credited with all. |
- A. Expenses
- B. Incomes
- C. Assets
- D. Liabilities
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| 4 |
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
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| 5 |
Income and expenditur eaccount is prepared on. |
- A. Cash basis
- B. Accrual basis
- C. Cahs of accural basis
- D. None of these
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| 6 |
Receipts and payments accounts records transaction relating to. |
- A. Current year
- B. Past year
- C. future year
- D. All of the above
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| 7 |
Non-profit seeking organizations prepare |
- A. Manufacturing account
- B. Trading account
- C. Income and expenditure account
- D. Profit and loss account
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| 8 |
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
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| 9 |
Income and expenditure account shows. |
- A. Surplus or deficit
- B. Not profit or net loss
- C. Capital account
- D. Cash in hand
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| 10 |
If the debit side of the income and expenditure account is greater thanthe credit sideit is termed as. |
- A. Surplus
- B. Deficit
- C. Assets
- D. Liabilities
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