NOT FOR PROFIT ORGANISATION

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Prepared by Lavna.K, HSST, Chakkalakkal HSS, Madavoor

NAME *

SCHOOL

1. The amount received by the Not-for Profit organization as per the will of a deceased person is called

1 point

Honorarium

Subscription

Legacy

Specific grant

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2. Which of the following is not a Not for Profit Organization..

1 point

School

Sport Club

Bajaj auto limited

Hospital

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3. Which is not included in the final account of a Not for profit organization

1 point

Receipt and Payment Account

Income and Expenditure Account

Profit and Loss Account

Balance Sheet

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4. Donation for construction of new computer laboratory is an example of ....

1 point

Revenue Receipt

Capital Receipt

Revenue Expenditure

Capital Expenditure

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5. Find the odd one:

1 point

Sale of old newspapers

Payment of Honorarium

Admission fees

Hall Rent

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6. . If income is Rs. 23000 and Deficit debited to capital fund is Rs. 6000, then the expenditure is ……..

1 point

17000

29000

6000

None of these

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7. A Not for profit organization received Rs. 8000 as the entrance fee of a new member, if 25% of the to be capitalized . What is the amount of fee need to be shown in the Income and expenditure account.

1 point

10000

6000

9000

None of these

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8. Receipts and Payment account is a summary of………….

1 point

Assets and Liabilities

Direct Incomes and Direct expenses

Cash receipts and cash payments

Indirect incomes and indirect expenses

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9. Payment to an artist for giving performance at the club is an example of …………

1 point

Legacy

Prize fund

Fees

Honorarium

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10. Legacies of small amount is shown on…………….

1 point

Income side of Income and Expenditure account

Payment side of the Receipt and Payment account

Expenditure side of the Income and Expenditure account

Liability side of the Balance Sheet.

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11. Income and Expenditure account generally indicates……..

1 point

Net profit / loss

Surplus / Deficit

Capital fund

General Fund

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12. Membership subscription received during the year Rs. 10000 . Subscription outstanding on closing date Rs. 2400. Subscription received in advance on closing date Rs.2100. What is the amount to be credited in the Income and Expenditure Account

4 points

9700

14500

12100

10300

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