Multiple Choice
The amount of 'Subscription received from members' by a Not-for Profit Organisation is shown in which of the following:
A) Debit side of Income and Expenditure Account
B) Credit side of Income and Expenditure Account
C) Liability side of Balance Sheet
D) Assets side of Balance Sheet
Correct Answer:

Verified
Correct Answer:
Verified
Q32: Donations received for a special purpose are<br>A)Asset<br>B)Revenue
Q33: Single entry system contains<br>A)All the relevant accounts<br>B)Only
Q34: General donations of relatively large amount is
Q35: Donation received for a special purpose:<br>A)Should be
Q36: The Income and expenditure account begins with<br>A)Debit
Q38: Not - for - profit organisations institutions
Q39: Income and Expenditure A/c is a<br>A)Nominal A/c<br>B)Real
Q40: From incomplete records, it is possible to
Q41: Income and Expenditure Account records transactions of:<br>A)Revenue
Q42: Under the net worth method, the profit