12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 2 (The Accounts of Non-Profit Making Organizations)

ICOM Part 2 English Medium Principles of Accounting Chapter 2 MCQ's Test

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ICOM Part 2 Principles of Accounting Chapter Wise Online MCQ's Test

MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 2 Online Test"

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Principles of Accounting Icom Part 2 English Medium Chapter 2 Online Test

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Question # 1

Lagacies are generally treated as.

Question # 2

Capital fun of non trading concern is equal to.

Question # 3

Excess of liablilities over assets is an indication of .

Question # 4

Donation receivedin heavy amount are treated as.

Question # 5

All transactions relating to non-profit seeking concerns are recorded in the books of account strictly according to

Question # 6

The income and expenditure account performs the same function as.

Question # 7

Non-profit making organization is also known as

Question # 8

Non-profit seeking organizations prepare

Question # 9

Non-profit making organizations

Question # 10

In receipt and payments account

Question # 11

Accured subscripttion represents.

Question # 12

Income and expenditure account shows

Question # 13

Income and expenditure account is credited with all.

Question # 14

Income and expenditur eaccount is prepared on.

Question # 15

Receipts and payments accounts records transaction relating to.

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Principles of Accounting
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ICOM Part 2 English Medium Principles of Accounting Chapter 2 MCQ's Test

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ICom Part II Principles of Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 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"
2 Income and expenditure account is usually accompanied by.
A. Trail balance
B. Balance sheet
C. Cash book
D. None of these
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 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
5 Non-profit making organizations
A. Buy goods
B. Manufacture goods
C. Sell goods
D. None of these
6 Income and expenditur eaccount is prepared at the
A. Start of the year
B. Mid of the year
C. End of the year
D. At the start and ed of the year
7 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
8 The excess of total assets over total liabilituies of a concern is called.
A. Surplus
B. Deficit
C. Capital fund
D. Profit
9 Amount received by the concern as per the will of the donor is known as.
A. Lagacy
B. Donation
C. Subscription
D. None of these
10 In cash book
A. Each entry is followed by narration
B. Ledger reference is recorded
C. Each transaction is recorded in chronological order
D. All of the above

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