Question 2 :
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 4 :
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 5 :
Taking all ______ assets with additions after charging depreciation and showing them on the assets side is one step adopted in preparation of balance sheet.
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 :
The affairs of the not-for-profit organisations are usually managed by a managing/executive committee elected by its _______.
Question 11 :
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 12 :
Decrease in working capital appear in fund flow statement in _________ side.
Question 16 :
Opening balance sheet is prepared when the opening balance of capital fund is not given.
Question 18 :
Shankar introduces Rs. 5000 as additional capital in the business. This amount will be considered as ___________.<i></i>
Question 21 :
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 23 :
If a receipt of $Rs.200$ from Rajesh who is a debtor to the company has not been recorded in the books, then the profit would show __________.
Question 24 : 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> 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>Adjustments:<br>1. Subscriptions received in advance Rs. 1500 and Outstanding Subscriptions Rs. $2500$.<br>2. Value of Sports equipment on 1.4.07 Rs. 1000 and on 31.3.2008 Rs. $9000$<br>3. Provide Rs. 1000 depreciation on Furniture. <br>Calculate the Amount of Surplus/Deficit from the Income and Expenditure account and mark the correct option from the following:
Question 25 :
The distinction between capital and revenue is necessary for the preparation of ___________.
