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Free MCQ’s Quiz on Class 12 Accountancy Part 1 – Chapter 1 – Accounting for Not-for-Profit-Organisation – Set 1

Free MCQ’s Quiz for Class 12 Accountancy Part 1 Chapter 1 – Accounting for Not-for-Profit-Organisation with Answers is prepared based on the latest CBSE Exam Pattern for the Academic Session. Students can solve NCERT based Class 12th Accountancy – ‘Accounting for Not-for-Profit-Organisation’ Multiple Choice Questions with Answers to know their preparation level on the Success Roar Classes website.

Here, we have provided Free MCQ’s Quiz on Class 12 Accountancy Part 1 – Chapter 1 – Accounting for Not-for-Profit-Organisation. A not-for-profit organisation is one whose principal goal is to offer a service to its members for the welfare of a group or society in general. As noted in the chapter accounting for not-for-profit organisations, not-for-profit organisations must keep a financial statement every year for legal reasons. A financial statement is required for the proper use of funds as well as the security of general funds from misappropriation.

To make you perfect in this topic – Accounting for Not-for-Profit-Organisation, we are here with a set of MCQs Quiz that will help you in brushing up the understanding of the concepts.

Free MCQ’s on Accounting for Not-for-Profit-Organisation.

Each set of MCQ’s consists of 10 Questions and you can see the results immediately after submitting the Set.

Free MCQ’s on Accounting for Not-for-Profit-Organisation

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#1. The Receipts and Payments A/c is a summary of:

#2. If the credit side of receipt and payment account exceeds the debit side, the balance represents

#3. In the Receipts and Payments Account, which one is shown?

#4. Donation received for a special purpose:

#5. What is the main objective of the non-profit organisation?

#6. Club’s subscriptions received in advance shown on the____ side of the Balance Sheet.

#7. Life membership fee received by a club is_____ receipt.

#8. In non-trading companies, the excess of assets over liabilities is referred to as -

#9. If a specific fund is maintained, any expenses that exceed the fund's value should be documented on:

#10. Legacy is a ___ receipt.

finish

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