| 1 |
The basic club record or book of original entry in non-profit making organization |
- A. Purchase book
- B. Sales book
- C. Cash book
- D. "a" and "b"
|
| 2 |
The method for preparing the final accounts in trading concerns and non-profit making organizations are |
- A. Same
- B. Different
- C. Easy
- D. Difficult
|
| 3 |
Accured subscripttion represents. |
- A. An expense
- B. An income
- C. An asset
- D. A liability.
|
| 4 |
Income and expenditur eaccount is prepared on. |
- A. Cash basis
- B. Accrual basis
- C. Cahs of accural basis
- D. None of these
|
| 5 |
If the credit side of the income oand expenditur eaccount is greater it is termed as. |
- A. Deficit
- B. Surplus
- C. Asset
- D. Liability
|
| 6 |
Excess of assets over liabilities is an indication of. |
- A. Solvency
- B. Insolvency
- C. Deficiency
- D. Loss
|
| 7 |
Receipts and payments account records the transactions of |
- A. Revenue nature
- B. Capital nature
- C. Revenue and capital nature
- D. None of these
|
| 8 |
Subscription Received in advance is. |
- A. An income
- B. An assets
- C. Liability
- D. An expenditure
|
| 9 |
The Receipt and payment account is the summery of the |
- A. Cash book
- B. Balance sheet
- C. Trqail balance
- D. Proft and loss account
|
| 10 |
The difference of the two sides of receipt and payment account represents. |
- A. Opening cash balance
- B. Closing cash or bank balance
- C. Opening bank balance
- D. None of these
|
