NPO 2

Identify the capital receipt from the following

• Life membership face

• Rent receipt

• Entrance fees

• Sports expenses

General donation received by NPO is shown in the

• Credit side of income and expenditure account

• Debit side of income and expenditure account

• Liabilities side of balance sheet

• Asset side of balance sheet

Specific donation received by NPO is shown in the

• Credit side of income and expenditure account

• Debit side of income and expenditure account

• Liabilities side of balance sheet

• As is decided by the management

Income and expenditure account is a

• Real account

• Nominal account

• Personal account

• Valuation account

Receipts and payments account is a

• Real account

• Nominal account

• Personal account

• Revenue account

Identify the item which is not shown under receipts and payments account in case of NPO

• Salaries

• Rent

• Depreciation

• Honorarium

Choose NPO from the following

• Reliance industries limited

• Indian hockey federation

• Infosys limited

• Private hospital

Furniture as on 31st March 2019 Rs. 4,40,000. Furniture (having book value as on 1st April 2018 of Rs. 40,000) sold at a loss of 20% on 31st December 2018. Furniture is depreciated @ 10% p.a. Furniture costing Rs. 3,00,000 was also purchased on 1st October 2018. Calculate loss on sale of furniture

• Rs. 9,400

• Rs. 6,400

• Rs. 8,000

• Rs. 7,400

Subscriptions received in advance by a club are shown

• In the credit side of the income and expenditure account

• In the asset side of the balance sheet

• In the liabilities side of the balance sheet

• In the payment side of receipt and payment account

Subscription received during the year 2019-20 is Rs. 1,50,000. Outstanding subscription as on 31st March 2019 is Rs. 1,00,000. The amount shown as subscription receipt will be

• Rs. 50,000

• Rs. 1,50,000

• Rs. 1,00,000

• Rs. 1,25,000