| 1 |
Receipt and payment account starts with the. |
- A. Opening balance
- B. Ending balance
- C. Beginning or ending balance
- D. None of these
|
| 2 |
Subscription otstanding in the beginning are shown in the |
- A. Trading account
- B. Income and expenditure account
- C. Balance sheet
- D. Profit and loss account
|
| 3 |
Excess of assets over liabilities is an indication of. |
- A. Solvency
- B. Insolvency
- C. Deficiency
- D. Loss
|
| 4 |
Lagacies are generally treated as. |
- A. Income
- B. Capitalized
- C. Assets
- D. Liability
|
| 5 |
Non-profit making organization is also known as |
- A. Non-profit seeking concern
- B. Non-trading concern
- C. Trading concern
- D. "a" and "b"
|
| 6 |
Non- trading concern prepare. |
- A. Profit and loss account
- B. Income and expenditure account
- C. Manufactureing account
- D. None of these
|
| 7 |
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"
|
| 8 |
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"
|
| 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 |
Excess of liablilities over assets is an indication of . |
- A. Solvency
- B. Insolvency
- C. Surplus
- D. Profit
|
