Financial Statements Of Non Profit Organisation CBSE Questions & Answers

Financial Statements Of Non Profit Organisation

This is Accountancy class 11 financial statements of non profit organisation CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.

Questions & Answers

1
Specific donations are:
  • A
    Shown in income and expenditure account
  • B
    Revenue
  • C
    Treated as revenue unless the amount is big
  • D
    Shown in balance sheet
    Correct
2
Outstanding subscription in the beginning 6,000 and at the end of the year 4,000. Advance subscription in the beginning 2,500 and at the end 3,000. Subscription received during the year 15,000. Subscription income for the year is:
  • A
    12500
    Correct
  • B
    19500
  • C
    16500
  • D
    13500
3
Tournament fund, tournament expense, tournament incomes are shown in:
  • A
    Balance sheet liabilities side only
    Correct
  • B
    Income and expenditure account
  • C
    Balance sheet asset side only
  • D
    Income and expenditure account and balance sheet
4
Subscription outstanding at the end of the current year is shown:
  • A
    Only in income and expenditure account
  • B
    Added to subscription in income and expenditure account and show in balance sheet also
    Correct
  • C
    Asset side in opening and closing balance sheet
  • D
    Balance sheet assets side only
5
Out of these, which account is prepared by the non-trading institution :
  • A
    Profit and loss account
  • B
    None of these
  • C
    Manufacturing Account
  • D
    Income and expenditure account
    Correct
6
Receipts and Payments account is a :
  • A
    None
  • B
    Personal account
  • C
    Real Account
    Correct
  • D
    Nominal account
7
The receipts and payments account generally shows:
  • A
    Debit balance
    Correct
  • B
    Capital fund
  • C
    Credit balance
  • D
    Assets and liabilities
8
The income and expenditure account generally shows:
  • A
    Only cash expenditures and incomes
  • B
    Capital Fund
  • C
    Surplus or deficit
    Correct
  • D
    Credit balance
9
Items shown in the income and expenditure account are:
  • A
    None of these
  • B
    Both capital and revenue nature
  • C
    Capital nature only
  • D
    Revenue nature only
    Correct
10
Stock of stationery in the beginning 1,000 and at end 600. Amount paid for stationery during the year 1500. What amount will be shown in income and expenditure account.
  • A
    1900
    Correct
  • B
    None of these
  • C
    3100
  • D
    1100
11
Amount of Contingent liabilities is shown in :
  • A
    Balance Sheet
  • B
    Profit & Loss Account
  • C
    None of these
    Correct
  • D
    Trading Account
12
Where will you show the Employer's Contribution to Provident Fund (P.F)?
  • A
    Balance Sheet
  • B
    Profit & Loss Account
    Correct
  • C
    Trading Account
  • D
    Will be shown in a separate account only
13
Wages paid in advance, if given in Trial Balance will be shown in :
  • A
    Trading Account only
  • B
    Profit & Loss account only
  • C
    None of these
  • D
    Balance Sheet only
    Correct
14
According to which concept Stock valued at Cost or Market Price whichever is less.
  • A
    Money measurement Concept
  • B
    Accounting period Concept
  • C
    Matching Concept
  • D
    Prudence Concept
    Correct
15
Nature of all outstanding expenses is:
  • A
    None of these
  • B
    Nominal
  • C
    Personal
    Correct
  • D
    Real