NPO

Receipts and payments account is prepared on

• Cash basis

• Time basis

• Accrual basis

• Sales basis

Choose NPO from the following

• Reliance industries Ltd

• Indian hockey federation

• Infosys limited

• Private hospital

Income and expenditure account is a

• Real account

• Nominal account

• Personal account

• Valuation account

Main source of income for a Not for profit organisation is

• Rent

• Salaries

• Donations and subscription

• Sale of assets

Life membership fee received by an NPO is accounted as

• Revenue receipts

• Capital receipts

• An asset

• Miscellaneous receipts

In the Receipt and payments account, receipts are shown on the...........side.

Income and expenditure account is prepared by...... ... entities.

In the Receipt and payments account, receipts are shown on the...........side.