CBSE Class 12 Accountancy Accounting for Not for Profit Organisation Quiz 4

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

A A Capital Receipt B A Revenue Income C A Liability D None of these

2. Specific donation is:

A Capital Receipt B Revenue Receipt C Asset D None of these

3. Income and Expenditure Account records transactions of:

A Capital nature only B Revenue nature only C (a) and (b) both D None of these

4. Life membership fee received by a club is:

A Revenue Receipt B Capital Receipt C (a) and (b) both D None of these

5. All receipts of capital nature are shown in :

A Income and Expenditure A/c B Balance Sheet C P. & L. A/c D None of these

6. All items of revenue in nature are shown in:

A Income and Expenditure A/c B Balance Sheet C (a) and (b) both D None of these

7. Which of the following is not a not-for-profit organisation ?

A College B Sports Club C Maruti Udyog D Hospital

8. Subscriptions received in advance by a club are shown on… .of the Balance Sheet

A Assets Side B Liabilities Side C Debit Side D Credit Side

9. Which of the following is not an income ?

A Subscription B Donation C Sale of Ticket D Endowment Fund

10. Most transaction in non-trading concerns are:

A Cash B Credit C Both (a) and (b) D None of these