Accounting for Non-For-Profit Organization
40 Que, 40 Marks
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1- Sale of old newspaper is- *
1 point
2- Income & Expense related to prize fund is shown in- *
1 point
3- Life membership fees of Non- Trading concern is- *
1 point
4- Legacies should be treated as- *
1 point
5- Payment of Honorarium to secretary is treated as- *
1 point
6- Specific donation is- *
1 point
7- Income and Expenditure Account records- *
1 point
8- Outstanding subscription is a/an- *
1 point
9- entrance fee unless otherwise stated, is treated as- *
1 point
10- Life membership fee received by Club is- *
1 point
11- All receipts of capital nature are shown in- *
1 point
12- All item of Revenue in  nature are shown in- *
1 point
13- Which of the following is not a not-for -profit organization- *
1 point
14- The excess of assets over liabilities in non-trading concern is treated as- *
1 point
15- Subscription received in advance by a club are shown on____side of Balance Sheet- *
1 point
16- Which of the following is not an income- *
1 point
17- Income & Expenditure Account includes- *
1 point
18- Most Transaction in non-trading concern are- *
1 point
19- The main object of non-profit organization is- *
1 point
20- Subscription received by an organization is- *
1 point
21- Entrance fee received by a Club is treated as- *
1 point
22- Receipt & Payment A/c is summary of- *
1 point
23- Subscription Received during the year Rs.50,000; Subscriptions outstanding at the end of the year Rs.8,000; Subscription outstanding at the beginning of the year Rs.6,000.  Net Income from subscription will be- *
1 point
24- Subscription Received during the year Rs.1,80,000; Subscriptions outstanding at the end of the year Rs.20,000; Subscription received in advance at the end of the year Rs.10,000. The amount of subscription to be credited to Income & Expenditure Account will be- *
1 point
25- In case specific fund is maintained, the expenses exceeding the amount of the funds, should recorded on- *
1 point
26- All receipts from sale of consumable items are treated as- *
1 point
27- Subscription received in cash during the year Rs.5,000, amount received in advance for the next year is Rs.300. Amount outstanding for current year was Rs.400. the amount to be credited to the Income & Expenditure Account is- *
1 point
28- If income is Rs.16,000 and 'Deficit' debited to capital fund is Rs.4,300, then expenditure is- *
1 point
29- Balance of income & expenditure account shows- *
1 point
30- Property received as a result of the will of the deceased person is called- *
1 point
31- Legacies should be treated as- *
1 point
32- Life membership fee received by Club is shown as- *
1 point
33- For non-trading organization honorarium is- *
1 point
34- Receipts & Payments A/c is a- *
1 point
35- Income & Expenditure A/c is a- *
1 point
36- Income & Expenditure Account is prepared- *
1 point
37- Receipts & payments Account usually indicates- *
1 point
38- Donation received for specific objective will be shown- *
1 point
39- The Excess of assets over liabilities in non-trading concern is treated as- *
1 point
40- In non-for-profit organizations, excess of expenditure over income is called- *
1 point
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