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Free Online MCQs Questions of Class – 12 Accountancy Chapter- 6 Non Profit Organization

Free Online MCQs Questions of CBSE Class 12 Accountancy Chapter- 6 Non Profit Organization with Answers. Free Online MCQs Questions for Class 12 Accountancy with Answers was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 12 Accountancy Non Profit Organization Multiple Choice Questions with Answers to know their preparation level on Success Roar Classes Website itself.

Generally, all organizations work with profit objective. But Non-Profit Organisations are the entity work for social welfare, religious upliftment, etc instead of profit. How these entities prepare their accounts? What type of statements prepared in these kinds of organisations? Know more by solving these MCQs.

Free Online MCQs Questions of Class -12 Accountancy

Chapter- 6 Non Profit Organization with Answers

1. Payments account generally shows:

a) A debit balance

b) A credit balance

c) Surplus or deficit

d) Capital fund

 2. Income and expenditure account records transactions of:

a) Revenue nature only

b) capital nature only

c) Both revenue and capital nature 

d) Income of only revenue nature and expenditure of revenue and capital nature

3. Income and expenditure account reveals:

a) Surplus or deficiency

b) Cash in hand

c) Net profit

d) Capital account

4. Subscription received by a school for organizing annual function is treated as:

 a) Capital receipt

b) Revenue receipt

c) Asset

d) Earned income

5. Amount received from sale of grass by a club should be treated as:

 a) Capital receipt

b) Revenue receipt

c) Asset

d) Earned income

6. Subscription received in advance during the current year is:

 a) An income

b) An asset

c) A liability

d) None of these

7. Subscription received in cash during the year amounted to Rs. 60,000; subscription received in advance for next year was Rs. 3000 and received in advance during previous year was Rs. 2000. Subscription in arrear at the end of current year was Rs. 5,400. The amount credited to income & expenditure account will be:

a) 53,600

b) 66,400

c) 55,600

d) 64,400

8. Life membership fee received by an institution is a ……… receipt.

a) Capital

b) Revenue

c) personal

d) real

9. Entrance fees is treated as ………. receipt.

   a) Capital

b) Revenue

c) personal

d) real

10. Subscription outstanding in case of a club are shown on the……….. Side of the Balance Sheet.

a) Assets

b) Liabilities

c) None of these

MCQs Questions of CBSE Class 12 Accountancy Chapter- 6 Non Profit Organization

Answer Key

  1. (a)      2. (a)     3. (a)     4. (a)     5. (b)     6. (c)     7. (d)     8. (a)      9. (b)      10. (a)

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