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- 1. Multiple Choice
Identify the capital receipt from the following
Life membership face
Rent receipt
Entrance fees
Sports expenses
- 2. Multiple Choice
General donation received by NPO is shown in the
Credit side of income and expenditure account
Debit side of income and expenditure account
Liabilities side of balance sheet
Asset side of balance sheet
- 3. Multiple Choice
Specific donation received by NPO is shown in the
Credit side of income and expenditure account
Debit side of income and expenditure account
Liabilities side of balance sheet
As is decided by the management
- 4. Multiple Choice
Income and expenditure account is a
Real account
Nominal account
Personal account
Valuation account
- 5. Multiple Choice
Receipts and payments account is a
Real account
Nominal account
Personal account
Revenue account
- 6. Multiple Choice
Identify the item which is not shown under receipts and payments account in case of NPO
Salaries
Rent
Depreciation
Honorarium
- 7. Multiple Choice
Choose NPO from the following
Reliance industries limited
Indian hockey federation
Infosys limited
Private hospital
- 8. Multiple Choice
Furniture as on 31st March 2019 Rs. 4,40,000. Furniture (having book value as on 1st April 2018 of Rs. 40,000) sold at a loss of 20% on 31st December 2018. Furniture is depreciated @ 10% p.a. Furniture costing Rs. 3,00,000 was also purchased on 1st October 2018. Calculate loss on sale of furniture
Rs. 9,400
Rs. 6,400
Rs. 8,000
Rs. 7,400
- 9. Multiple Choice
Subscriptions received in advance by a club are shown
In the credit side of the income and expenditure account
In the asset side of the balance sheet
In the liabilities side of the balance sheet
In the payment side of receipt and payment account
- 10. Multiple Choice
Subscription received during the year 2019-20 is Rs. 1,50,000. Outstanding subscription as on 31st March 2019 is Rs. 1,00,000. The amount shown as subscription receipt will be
Rs. 50,000
Rs. 1,50,000
Rs. 1,00,000
Rs. 1,25,000
- 11. Multiple Choice
Income and Expenditure A/C is prepared in order to ascertain
Profit or Loss
Surplus or Deficit
Cash in hand & at Bank
Assets & Liabilities
- 12. Multiple Choice
The Receipts & Payments account is a
Real account
Nominal Account
Personal Account
Impersonal Account
- 13. Multiple Choice
The Receipts and Payments account contains
Capital Receipts and Payments only
Revenue Receipts Payments only
Petty Receipts and Payments only
All receipts and Payments
- 14. Multiple Choice
Statement for the calculation of revenue of non-profit concern is known as
Profit an Loss Account
Income and Expenditure Account
Receipts and Payment Account
Balance Sheet
- 15. Multiple Choice
Income and Expenditure A/C is an ................ Account
Nominal
Real
Personal
None of the above
- 16. Multiple Choice
Income and Expenditure Account records transactions of .......................nature
Revenue
Capital
Both Revenue and Capital
None of these
- 17. Multiple Choice
Receipts and Payments Account contains ............items
Revenue
Capital
Both revenue and capital
None of these
- 18. Multiple Choice
..................of a Non- Trading concern is similar to that of the cash account of a trading concern
Income and Expenditure Account
Receipts and Payments Account
Cash Book
Profit and Loss Account
- 19. Multiple Choice
Subscription received in advance is.............
Expense
Asset
Income
Liability
- 20. Multiple Choice
The amount received by a non trading concern as per the will of a deceased person is known as........
Donation
Grants
Subscription
Legacy
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