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	Receipt and payment account includes.	A. Revenue items B. Capital items C. Both capital and Revenue items D. None of the above
2	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
3	Depreciation written off on fixed assets should be recorded in the.	A. Income and expenditure account only B. Receipt and payment account only C. Receipt and payment account and banalce sheet D. Income and expenditure account and balance sheet.
4	An income and expenditure account is.	A. Normal account B. Real account C. Persoanl account D. None of these
5	the activities of non -trading concern are managed by the.	A. Directors B. Member C. governing body D. Promoters
6	If the debit side of the recipt and payment account exceeds the credit side it represents.	A. Bank over draft B. Cash at bank C. Surplus balnce D. Deficit balance
7	Income and expenditure accout is usually accompanied by.	A. Trail balance B. Balance sheet C. Income and gains D. Liabilities
8	Accured subscripttion represents.	A. An expense B. An income C. An asset D. A liability.
9	A receipts and payments account is similar to	A. An income and expenditure B. A statement of affair C. A cash or a bank account D. A profit or loss account
10	Admission fee income should be.	A. Treated as income B. Capitalized C. Proportionate to revenue and capitalized D. None of these