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12th Standard English Medium Accountancy Subject Accounts of Not-For-Profit Organisation Book Back 1 Mark Questions with Solution Part - II

12th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 5

    Part I

    5 x 1 = 5
  1. Receipts and payments account is a

    (a)

    Nominal A/c

    (b)

    Real A/c

    (c)

    Personal A/c

    (d)

    Representative personal account

  2. Balance of receipts and payments account indicates the

    (a)

    Loss incurred during the period

    (b)

    Excess of income over expenditure of the period

    (c)

    Total cash payments during the period

    (d)

    Cash and bank balance as on the date

  3. Income and Expenditure Account is prepared to find out

    (a)

    Profit or loss

    (b)

    Cash and bank balance

    (c)

    Surplus or deficit

    (d)

    Financial position

  4. Subscription due but not received for the current year is

    (a)

    An asset

    (b)

    A liability

    (c)

    An expense

    (d)

    An item to be ignored

  5. Donations received for a specific purpose is

    (a)

    Revenue receipt

    (b)

    Capital receipt

    (c)

    Revenue expenditure

    (d)

    Capital expenditure

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