ACCOUNTING FOR NOT FOR PROFIT ORGANISATIONS (NPO)
Online Test
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Name of Student *
Roll No *
Class *
Name of School *
1. What does a credit balance of income & expenditure account show at the end of a year? *
1 point
2. The name of the account prepared by a non trading concern to calculate the balance ofcash or balance at bank is called: *
1 point
3. The difference between total assets and total liabilities of a club is known as: *
1 point
4. The subscription details of a club are given below:-                                                                 Received during the year ₹1080 Subscription in advance on 1-1-2003 ₹300 Subscription advance on 31-12- 2003 ₹50 .What amount will be entered in the income & expenditure account for the year ended31/12/2003 *
1 point
5. The following details are available:Subscription arrears on 1-1-2003 ₹200  Subscription received during the year ₹2080 Subscription in advance on 31-12-2003 ₹150   Subscription in advance on 1-1-2003 ₹ 300  What is the amount to be shown in the income & expenditure account for the year ended31 st December 2003? *
1 point
6. Which should be considered as capital receipt of a club? *
1 point
7. Which of the following items will not appear in the balance sheet of a club? *
1 point
8. How are the subscriptions received in advance recorded in a club’s balance sheet? *
1 point
9. Which of the following will not be entered in income & expenditure account? *
1 point
10. The subscription account is classified as? *
1 point
11.Revenue items only are recorded in *
1 point
12.A receipt and payment account is simply a summary of the *
1 point
13.Sale of old newspapers is *
1 point
14.Income and expenses related to the prize fund is shown in *
1 point
15.Life membership fees of non-trading concerns is *
1 point
16.Legacies should be treated as *
1 point
17.Payment of Honorarium to secretary is treated as *
1 point
18.Specific donation is *
1 point
19.Income and Expenditure Account records *
1 point
20.Outstanding subscription is a/an *
1 point
21.Entrance fee, unless otherwise stated, is treated as *
1 point
22.All receipts of capital nature are shown in *
1 point
23.Which of the following is not a not-for-profit organisation *
1 point
24.The excess of assets over liabilities in non-trading concerns is treated as *
1 point
25.Which of the following is not an income *
1 point
26.Most transactions in non-trading concerns are *
1 point
27.The main object of non-profit organisation is *
1 point
28.Subscription received by an organisation is *
1 point
29. Subscription received during the year ` 50,000; Subscriptions outstanding at the end of the year ` 8,000; Subscription outstanding at the beginning of the year ` 6,000. Net Income from subscription will be *
1 point
30. Subscription received during the year ` 1,80,000; Subscriptions outstanding at the end of the year ` 20,000; Subscriptions received in advance at the end of the year ` 10,000. The amount of subscription to be credited to Income and Expenditure Account will be *
1 point
31.In case specific fund is maintained, the expenses exceeding the amount of the funds, should be recorded on *
1 point
32.All receipts from sale of consumable items are treated as *
1 point
33.Subscriptions received in cash during the year ` 5,000, amount received in advance for the next year is ` 300. Amount outstanding for current year was ` 400. The amount to be credited to the Income and Expenditure Account is *
1 point
34.If income is ` 16,000 and ‘deficit’ debited to capital fund is ` 4,300, then expenditure is *
1 point
35.Balance of Income and Expenditure Account shows *
1 point
36.Property received as a result of the will of the deceased person is called *
1 point
37.Legacies should be treated as *
1 point
38.Life membership fees received by Club is shown in *
1 point
39.For non-trading organisation honorarium is *
1 point
40.Receipts & Payments A/c is a *
1 point
41.Which of the following is not a not-for-profit organisation *
1 point
42.Income and Expenditure Account is prepared *
1 point
43.Income and Expenditure Account generally indicates *
1 point
44.Donation received for specific objective will be shown *
1 point
45.Which are of the items given below is not shown in the receipts and payments account of a NPO *
1 point
46.The excess of Sports expenditure over a Sports fund of a club is shown in *
1 point
47.Any revenue expense for which a seperate fund available will be *
1 point
48.Out standing subscribtion of a club is its *
1 point
49.In the Receipts and Payments account of a NPO,Receipts side shows *
1 point
50.The Balance Sheet of a NPO does not include *
1 point
BY ABDUSSALAM PV,                                      HSST COMMERCE,GHSS KATTILANGADI
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