Multiple Choice
Not - for - profit organisations institutions prepare
A) Profit and loss account
B) Manufacturing account
C) Income and expenditure account
D) All of the above
Correct Answer:
Verified
Correct Answer:
Verified
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
Q37: The amount of 'Subscription received from members'
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
Q43: Income and expenditure Account shows a balance