Question 4 :
The Receipts and Payment account is prepared at the _______ of the accounting year on the basis of cash receipts and cash payments recorded in the _______ book.

Question 5 :
A Club of 100 members. Subscription per member is Rs. 2,500 p.a. Rs. 2,18,000 are received during the year 2016-2017 which includes 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 7 :
Non-profit organizations prepare all of the following accounts except the _______________. 

Question 8 :
In Income and Expenditure account all Expenditure are recorded on ______________.

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

Question 10 :
If an organisation has followed the _______ entry system, they must prepare a trial balance for checking the accuracy of the ledger accounts.

Question 11 :
Professional people like solicitors, doctors, company secretary, cost accountant, chartered accountants etc., prepare for themselves ___________ which is a modified form of Income & Expenditure A/c prepared by non-trading concerns. 

Question 12 :
On the basis of following information calculate the amount will appear in the item 'stationery consumed' in Income and Expenditure Account for the year ending 31st March, 2009.&#160;<table class="wysiwyg-table"><tbody><tr><td>Stock of stationary on&#160;1.4.2008&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;<br/></td><td>12, 000<br/></td><td></td></tr><tr><td>Amount paid for stationary during the year ended 31.3.2009<br/></td><td>1,40,000</td><td></td></tr><tr><td>Stock of stationary on 31.3.2009<br/></td><td>23,000<br/></td><td></td></tr></tbody></table>

Question 13 :
Rs. 2,000 due from XYZ Associates was written off as bad debts in 2012-13, however in 2013-14 XYZ&nbsp;paid Rs. 1,500 voluntarily. This receipt will be accounted for as

Question 14 :
Which of the following accounts mostly begins with an opening balance?

Question 16 :
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 17 :
Which of the following is generally considered as a non-profit oriented organization?

Question 18 :
&#160;The organisations which are set up for providing service are called as _____.

Question 21 :
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 22 :
The closing debit balance in the receipts and payments account indicates the ________ balance at the end of the year.

Question 24 :
Income and Expenditure Account records income and expenditure item of ____________________.

Question 25 :
Income &amp; 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 26 :
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 28 :
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 29 :
Which of the following is the accounting equation for a non-profit organization ?

Question 33 :
Shankar introduces Rs. 5000 as additional capital in the business. This amount will be considered as ___________.<i></i>

Question 34 :
(I) In Receipt &amp; Payment A/c all&#160; receipts and payments are shown irrespective of the year to which they pertain.<br/>(II) The difference at Dr. side of Receipt &amp; Payment A/c account is known as surplus or deficit and deducted from capital fund.<br/>(III) Income &amp; Expenditure A/c is always accompained by balance sheet. <br/><div>Select the correct answer.</div>

Question 35 :
In case a sports fund is kept, expenses on account of sports events should be ____________.

Question 36 :
Match List-I(financial statements and accounts) with List-II(special matters associated with statements and accounts) and select the correct answer using the codes given the lists.<table class="wysiwyg-table"><tbody><tr><td>List-I</td><td>List-II</td></tr><tr><td>I. Receipts and payments</td><td>(a) Revenue account</td></tr><tr><td>II. Income and expenditure account</td><td>(b) Cash</td></tr><tr><td>III. Dividend equalisation reserve</td><td>(c) Liability</td></tr><tr><td>IV. Club subscription received in advance account</td><td>(d) Balance Sheet</td></tr><tr><td></td><td>(e) General reserve</td></tr></tbody></table>

Question 37 :
The ______________ is the summary of cash and bank transactions which helps the preparation of Income and Expenditure account and Balance Sheet.

Question 38 :
The income and expenditure account is prepared on the basis of __________ system of accounting.

Question 39 :
In not-for-profit organization, surplus generated in the form of excess of income over expenditure is distributed amongst the _________.

Question 40 :
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>

Question 41 :
The distinction between capital and revenue is necessary for the preparation of ___________.

Question 42 :
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 44 :
The following information is provided by a club<br/>Stock of sports goods = Rs.20,000<br/>Purchase of sports goods During the year = Rs.80,000<br/>Sports goods sold as scrap = Rs.500<br/>Closing balance = Rs.30,000<br/>The amount to charged to Income and Expenditure Account will be:

Question 45 :
<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: