Account For Not For Profit Class 12 MCQs Questions with Answers

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

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

3. Payment of honorarium to secretary is treated as :

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

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

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

7. Capital fund is calculated:

8. Outstanding subscription is a:

9. Specific donation is:

10. Balance of Income and Expenditure Account shows:

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

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

13. Income and Expenditure Account is:

14. Receipts and Payments Account usually indicates:

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

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

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

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

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

20. Income and Expenditure Account is prepared :