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	Receipt and payment account is prepared at the.	A. Start of the year B. End of the year C. Mid of the financeial year D. None of these
2	Lagacies are generally treated as.	A. Income B. Capitalized C. Assets D. Liability
3	If the credit side of the income oand expenditur eaccount is greater it is termed as.	A. Deficit B. Surplus C. Asset D. Liability
4	Non- trading concern prepare.	A. Profit and loss account B. Income and expenditure account C. Manufactureing account D. None of these
5	Income and expenditure account is equivalent to the.	A. Receipt and payment account B. Balance sheet C. Cash book D. Profit and loss account
6	Excess of assets over liabilities is an indication of.	A. Solvency B. Insolvency C. Deficiency D. Loss
7	Income and expenditur eaccount is prepared on.	A. Cash basis B. Accrual basis C. Cahs of accural basis D. None of these
8	Purchase of sports material for the club should be treated as.	A. Expense B. Assets C. Income D. Liability
9	The amount paid to person who was invited to deliver a lecture in a club is known as.	A. Hoorarium B. Salary C. Wages D. None of these
10	Donation receivedin heavy amount are treated as.	A. Revenue B. Capitaized C. Liability D. Assets