12th class Principle of Accounting chapter 2 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 2 (The Accounts of Non-Profit Making Organizations)

Principles of Accounting Icom Part 2 English Medium Chapter 2 Online Test

Sr. #	Questions	Answers Choice
1	Amount received by the concern as per the will of the donor is known as.	Lagacy Donation Subscription None of these
2	Receipts and payments accounts records transaction relating to.	Current year Past year future year All of the above
3	Depreciation written off on fixed assets should be recorded in the.	Income and expenditure account only Receipt and payment account only Receipt and payment account and banalce sheet Income and expenditure account and balance sheet.
4	Subcription received during the current year is.	An income An expenditure An asset An liability.
5	Purchase of sports material for the club should be treated as.	Expense Assets Income Liability
6	The amount paid to person who was invited to deliver a lecture in a club is known as.	Hoorarium Salary Wages None of these
7	Amount received by the way of gift from any person or organization is called.	Donation Subscription Legacy None of these
8	Capital fun of non trading concern is equal to.	Assets + Income Assets + Liabilities Expenditure + Liabilities. Assets - Liabilities
9	The excess of total assets over total liabilituies of a concern is called.	Surplus Deficit Capital fund Profit
10	The income through admissionfee shoul dbe.	Capitalized Treated as revenue Treated as liability An expenses
11	Capital is obtained by deductin liabiliities from.	Expenditures Receipt Assets Incomes
12	Excess of liablilities over assets is an indication of .	Solvency Insolvency Surplus Profit
13	Excess of assets over liabilities is an indication of.	Solvency Insolvency Deficiency Loss
14	Subscription otstanding in the beginning are shown in the	Trading account Income and expenditure account Balance sheet Profit and loss account
15	Admission fee income should be.	Treated as income Capitalized Proportionate to revenue and capitalized None of these

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