Account For Not For Profit Class 12 MCQs Questions with Answers

1. Subscription redeved in advance during the current year is:

2. Income and Expenditure Account is prepared :

3. Capital fund is calculated:

4. In case specific fund is maintained, the expenses exceeding the amount of the funds, should be recorded on:

5. All receipts from sale of consumable items are treated as:

6. Specific donation is:

7. Entrance fees, unless otherwise stated, is treated as:

8. In case specific fund is maintained, the expenses exceeding the amount of the fluids, should be recorded on:

9. Outstanding subscription is a:

10. For a non-trading concern, honorarium paid is:

11. Property received as a result of the will of the deceased person is called:

12. Receipts and Payments A/c is a summary of:

13. Income and Expenditure Account is:

14. Balance of Income and Expenditure Account shows:

15. Subscription received by a schoblfbr organising annual V function is treated as:

16. Receipts and Payments Account usually indicates:

17. Life Membership Fees received by a club is shown in :

18. The excess of assets over liabilities in non-trading concerns is termed as:

19. Out of the following items, which one is shown in the Receipts and Payments Account?

20. Payment of honorarium to secretary is treated as :