Question 5 :
The accounting information provided by not-for-profit organizations is meant for the _______ and potential contributors to meet the statutory requirement.

Question 8 :
If an organisation has followed the _______ entry system, they must prepare a trial balance for checking the accuracy of the ledger accounts.

Question 9 :
Which of the following consisting  the final account of a non-profit organization_____________.

Question 10 :
Statement I: Receipt &amp; Payment A/c starts with the opening balance of cash in hand and at bank. <br/>Statement II:&#160;Income &amp; Expenditure A/c have no opening balance. <br/>Select the correct answer the options given below.

Question 11 :
From the following, find out the amount of subscriptions to be included in the Income &amp; Expenditure Account for the year ended 31st March 2009.&#160;<br/>Subscription were received during the year 2008 - 2009 as follows:&#160;<br/><span>For the year 2008 - 2009 30,000</span><div><span>For the year 2009 - 2010 3,000</span></div><div><span>Subscription outstanding as on 31st March 2008 were Rs. 3,500 out of which Rs.500 were considered to be irrecoverable. On the same date, Subscription received in advance for 2008-2009 were Rs. 2,000.<br/></span></div>

Question 12 :
Given : Stock of stationery on Jan. 1, 2015 Rs 400<br>Stock of stationery on Dec. 31, 2015 Rs 100<br>Payment for stationery during 2015 Rs 1,200<br>Creditors for stationery on Dec. 31, 2015 Rs 150.<br>What is the amount of stationery that will be posted to the Income and Expenditure A/c for the year ending Dec. 31, 2015?<br>

Question 13 :
Not-for-Profit organisations refer to the organisations that are used for the welfare of the _________ and are set up as charitable institutions which function without any profit motive.

Question 14 :
The affairs of the not-for-profit organisations are usually managed by a managing/executive committee elected by its _______.

Question 16 :
<span>Suresh consigned 2,000 pieces of goods to his agent costing 30 each and an invoice price of 20% over cost price. 4/5th of the goods were sold by Agent at a profit margin of 25% on his cost. Sale value of goods will be:</span>

Question 17 :
Income and Expenditure Account records income and expenditure item of ____________________.

Question 19 :
In Income and Expenditure account all Expenditure are recorded on ______________.

Question 20 :
Income and Expenditure account is ______ to account like Profit and Loss account.

Question 21 :
A Club is of 150 members. Subscription per member is Rs. 500 per month. Subscription of 8 members of whole years was not received and subscription from 5 members has been received In advance for 6 months of the next year. The amount of subscription to be shown in Receipts &amp; Payments Account will be ________________.

Question 24 :
In case a sports fund is kept, expenses on account of sports events should be ____________.

Question 25 :
The capital of a non-profit organization is generally known as __________.

Question 26 :
&#160;The organisations which are set up for providing service are called as _____.

Question 27 :
Income and Expenditure account is ________ by balance sheet whereas Receipt and Payment account is __________by balance sheet

Question 28 :
Income and expenditure account is also called as a ________ account.

Question 31 :
The surplus generated in the form of excess of income over expenditure is simply ________ in the capital fund.

Question 32 :
Shankar introduces Rs. 5000 as additional capital in the business. This amount will be considered as ___________.<i></i>

Question 34 :
Which of the following accounts mostly begins with an opening balance?

Question 35 :
Which of the following is to be recorded in an Income and expenditure account ?

Question 36 :
Subscription amounting to Rs. 7,500 appear on the credit side of income and expenditure account after adjusting subscriptions out standing Rs. 600 and subscriptions received in advance Rs. 450. The amount of subscriptions to be shown in the receipts and payments account for the same year will be.

Question 37 :
A Club of 100 members. Subscription per member is&#160;Rs. 2,500 p.a.&#160;Rs. 2,18,000 are received during the year 2016-2017&#160;which includes&#160;Rs. 20,000 and Rs. 15,000 subscription for the years 2015-2016 and 2017-2018 respectively. At the end of the year 2016-2017, the amount of outstanding subscription will be __________.

Question 40 :
The ______________ is the summary of cash and bank transactions which helps the preparation of Income and Expenditure account and Balance Sheet.

Question 41 :
<span>From the following Receipts and payments account of a club for 2017-18, prepare Income and Expenditure account and a balance sheet as on 31.3.2018.<br>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;&nbsp;</span>Receipts and Payments account<table class="wysiwyg-table"><tbody><tr><td>Receipts</td><td>Amount (Rs.)</td><td>Payments</td><td>Amount (Rs.)<br></td></tr><tr><td>To Donations received</td><td>14,000</td><td>By Salaries</td><td>3,300</td></tr><tr><td>To Subscriptions</td><td>6,500</td><td>By Furniture</td><td>11,700</td></tr><tr><td>To Life Memberhip fee</td><td>6,000</td><td>By Games expenses</td><td>2,500</td></tr><tr><td>To Tournment fund</td><td>8,000</td><td>By Printing</td><td>3,100</td></tr><tr><td>To Entrance fee</td><td>1,200</td><td>By Tournment expenses</td><td>3,000</td></tr><tr><td>To Donations for<br><br>Computer</td><td>5,000</td><td>By Sports Equipment</td><td>14,000</td></tr><tr><td>To Sale of Old Newspaper<br></td><td>500</td><td>By Balance c/d</td><td>2,600</td></tr><tr><td><br></td><td>40,200</td><td></td><td>40,200</td></tr></tbody></table><span>Adjustments:<br>1. Subscriptions received in advance Rs. 1500 and Outstanding Subscriptions Rs. $2500$.<br></span>2.&nbsp;Value of Sports equipment on 1.4.07 Rs. 1000 and on 31.3.2008 Rs. $9000$<br>3.&nbsp;<span>Provide Rs. 1000 depreciation on Furniture.&nbsp;<br></span>Calculate the Amount of Surplus/Deficit from the Income and Expenditure account and mark the correct option from the following:

Question 42 :
An Institution received Rs. 140,030 as rent during the year 2016-2017 which includes Rs. 36,000 received in advance for the year 2017-2018. Outstanding rent at the end of the years 2015-2016 and 2016-2017 were Rs. 24,000 and Rs. 28,000 respectively. Amount of rent to be shown in Income and Expenditure Account for the year 2016-2017 will be _______________.

Question 43 :
The total of all payments irrespective of their nature (whether capital or revenue) and whether they pertain to past, current and future periods are to be shown on its credit side is step ____ in preparation of Receipt and Payment Account.

Question 45 :
In a Club, subscription received for current year Rs. 2,50,000.<div>Subscription of current year received in the previous year Rs. 25,000. Subscription out-standing for current year 45,000.</div><div>Subscription received in advance in current year Rs. 11,000 and subscription of previous year received in current year Rs. 35,000.&#160;</div><div>The amount of subscription to be shown in Income and Expenditure Account will be ___________.</div>