Account For Not For Profit Class 12 MCQs Questions with Answers

1. Income and Expenditure Account is:

2. Balance of Income and Expenditure Account shows:

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

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

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

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

7. Income and Expenditure Account is prepared :

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

9. Capital fund is calculated:

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

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

12. Payment of honorarium to secretary is treated as :

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

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

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

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

17. Outstanding subscription is a:

18. Specific donation is:

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

20. Receipts and Payments Account usually indicates: