Account NPC

Not for Profit Concern renders ............. services to public at large.

• Commercial

• Social

• Individual

• Group
  

Donation for Scholarship Fund is .............

• Capital Receipt

• Revenue Receipt

• Capital Expenditure

• Revenue Expenditure

Income and Expenditure Account is a ........... Account

• Capital

• Real

• Personal

• Nominal
  

Outstanding subscription at the end of the Accounting Year represents ...........

• Liability

• An Expenditure

• An Asset

• Capital Fund

Subscription received in advance during the accounting year is ...........

• An Income

• An Expense

• An Asse

• A Liability
  

Excess of Income over Expenditure is termed as ............

• Deficit

• Profit

• Surplus

• Loss
  

Not for Profit Concerns prepares ............... account instead of Profit and Loss account to
know the result.

• Trading

• Income and Expenditur

• Cash

• Receipt and Payments

The closing balance of Receipts and Payments account usually represent .......

• Closing stock

• Cash and Bank balance

• Surplus

• Deficit

Not for Profit Organization is also called ............. organization.

• Service

• Trading

• Profit making

• Commercial
  

.Expenditure on Purchase of Building is a ........... Expenditure.

• Capital

• Revenue

• General

• Recurring