12th class Principle of Accounting chapter 2 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 2 (The Accounts of Non-Profit Making Organizations)

Top Scorers Of Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 2 Online Test" MCQ`s Test

Sr.#	Question	Answer
1	Receipts and payments account records transaction relating to	A. Past year B. Future year C. Present year D. All of the above
2	Income and expenditure account is credited with all.	A. Expenses B. Incomes C. Assets D. Liabilities
3	Receipts and payments accounts records transaction relating to.	A. Current year B. Past year C. future year D. All of the above
4	The account of non trading concern are generally maintained according to.	A. Mereantile accounging system B. Double entry system of book keeping C. Cash accounting system D. None of the above
5	In income and expenditure account	A. Expense are recorded on debit side B. Revenues are recorded on credit side C. Does not start with any opening balance D. All of the above
6	Income and expenditure accout is usually accompanied by.	A. Trail balance B. Balance sheet C. Income and gains D. Liabilities
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	Income and expenditure account shows.	A. Surplus or deficit B. Not profit or net loss C. Capital account D. Cash in hand
9	Non-profit making organizations are established for	A. Profit B. Charitable or religious purpose C. To manufacture goods D. To help the rich people
10	Income and expenditure account is equivalent to the.	A. Receipt and payment account B. Balance sheet C. Cash book D. Profit and loss account