Tag: features of not-for-profit organisation
Questions Related to features of not-for-profit organisation
In the Receipt and Payment account both capital and revenue transactions are recorded, whereas in Income and Expenditure account ________ transactions are recorded.
Which of the following items are not considered in Receipt & Payment A / c but are considered Income & Expenditure A / c?
Donations received for a special purpose will be transferred to the ___________.
Which of the following items should not be entered in receipts and payments account of a club?
Donations received by a non-profit organisation are usually ___________.
Any profit on the sale of furniture of a cricket club will be taken in the _________.
Which of the following items should be entered in the receipts and payments account of a club?
I. Sale of old newspapers
II. Loss on sale of some asset
III. Payments for investment
Select the correct answer using the codes given.
Income and Expenditure Account of non-profit organisation is a ________________.
Receipts and Payments Account is prepared by _________________.
Final accounts prepared for professionals is termed as __________ Account and not Income and Expenditure Account.