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)

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Sr.#	Question	Answer
1	Admission fee income should be.	A. Treated as income B. Capitalized C. Proportionate to revenue and capitalized D. None of these
2	Income and expenditure account shows.	A. Surplus or deficit B. Not profit or net loss C. Capital account D. Cash in hand
3	It is prepared by non-profit making organizations to determine surplus or deficit	A. Trading account B. Profit and loss account C. Receipts and payments account D. Income and expenditure account
4	the activities of non -trading concern are managed by the.	A. Directors B. Member C. governing body D. Promoters
5	Receipts and payments accounts records transaction relating to.	A. Current year B. Past year C. future year D. All of the above
6	The main sources of income of for on -trading concern is.	A. Subscriptions B. Donations C. Sales D. Dividends on investment
7	Lagacies are generally treated as.	A. Income B. Capitalized C. Assets D. Liability
8	Donation receivedin heavy amount are treated as.	A. Revenue B. Capitaized C. Liability D. Assets
9	Example of non-profit making organization	A. Fan factory B. Sugar industry C. Hospital D. Shoe factory
10	All transactions relating to non-profit seeking concerns are recorded in the books of account strictly according to	A. Single entry system B. Double entry system C. Treble entry system D. "a" and "b"