Question Text
Question 3 :
Income & Expenditure A/c is prepared by transfer of :<br/>(I) Nominal accounts <br/>(II) Real accounts <br/>(III) Personal accounts <br/>The correct answer is ___________________.
Question 6 :
 The organisations which are set up for providing service are called as _____.
Question 7 :
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 8 :
Which of the following is generally considered as a non-profit oriented organization ?
Question 9 :
The affairs of the not-for-profit organisations are usually managed by a managing/executive committee elected by its _______.
Question 11 :
A not-for-profit entity has all of the following characteristic except that it will ______________.
Question 14 :
Not for profit organisation do not have to manufacture,purchase or sell goods and may not have credit transactions so they don't have to maintain _________account.
Question 16 :
The surplus generated in the form of excess of income over expenditure is simply ________ in the capital fund.
Question 17 :
The first step in preparation of Receipt and Payment Account is taking the opening balances of cash on hand and cash at bank and entering them on the _______ side; bank overdraft at the beginning of the year by entering the same on the ______ side of this account.
Question 19 :
Income and Expenditure account is ______ to account like Profit and Loss account.
Question 20 :
In Income and Expenditure account all Expenditure are recorded on ______________.
