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

Subscription Received in advance is.

Question # 2

Receipts and payments account records the transactions of

Question # 3

Non-profit seeking organization income and expenditure account performs the same function as profit seeking organization's

Question # 4

The income and expenditure account begins with.

Question # 5

Income and expenditur eaccount is prepared on.

Question # 6

Amount received by the concern as per the will of the donor is known as.

Question # 7

Income and expenditure account shows.

Question # 8

Example of non-profit making organization

Question # 9

The excess of total assets over total liabilituies of a concern is called.

Question # 10

Receipts and payments accounts records transaction relating to.

Question # 11

Surplus balance cna be shown in the balnce sheet as.

Question # 12

If the debit side of the recipt and payment account exceeds the credit side it represents.

Question # 13

Income and expenditure account shows

Question # 14

Depreciation written off on fixed assets should be recorded in the.

Question # 15

Income and expenditure account is debited with all.

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Principles of Accounting
2nd Chapter

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 Subscription Received in advance is.
A. An income
B. An assets
C. Liability
D. An expenditure
2 Non-profit seeking organization income and expenditure account performs the same function as profit seeking organization's
A. Trading and profit and loss account
B. Balance sheet
C. Bank account
D. Petty cash book
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 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
5 In non-profit making organization final accounts contains
A. Income and expenditure account and balance sheet
B. Receipts and payments account and balance sheet
C. Receipts and payments account and statement of affairs
D. Profit and loss account and balance sheet
6 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
7 Receipts and payments account shows
A. Debit and credit balances of ledgers
B. Incomes and expenditures
C. Cash receipts and payments
D. Assets and liabilities
8 Income and expenditure accout is usually accompanied by.
A. Trail balance
B. Balance sheet
C. Income and gains
D. Liabilities
9 Lagacies are generally treated as.
A. Income
B. Capitalized
C. Assets
D. Liability
10 The income through admissionfee shoul dbe.
A. Capitalized
B. Treated as revenue
C. Treated as liability
D. An expenses

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