WorksheetsAccountancy NPO
Total questions: 10
Worksheet time: 5mins
Income and Expenditure A/C is prepared in order to ascertain
Profit or Loss
Surplus or Deficit
Cash in hand & at Bank
Assets & Liabilities
The Receipts & Payments account is a
Real account
Nominal Account
Personal Account
Impersonal Account
The Receipts and Payments account contains
Capital Receipts and Payments only
Revenue Receipts Payments only
Petty Receipts and Payments only
All receipts and Payments
Statement for the calculation of revenue of non-profit concern is known as
Profit an Loss Account
Income and Expenditure Account
Receipts and Payment Account
Balance Sheet
Income and Expenditure A/C is an ................ Account
Nominal
Real
Personal
None of the above
Income and Expenditure Account records transactions of .......................nature
Revenue
Capital
Both Revenue and Capital
None of these
Receipts and Payments Account contains ............items
Revenue
Capital
Both revenue and capital
None of these
..................of a Non- Trading concern is similar to that of the cash account of a trading concern
Income and Expenditure Account
Receipts and Payments Account
Cash Book
Profit and Loss Account
Subscription received in advance is.............
Expense
Asset
Income
Liability
The amount received by a non trading concern as per the will of a deceased person is known as........
Donation
Grants
Subscription
Legacy
