CBSE Class 12 Accounting for Not for Profit Organisation Multiple Choice Questions with Answers. MCQ Questions Class 12 Accounting for Not for Profit Organisation with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 12 Accounting for Not for Profit Organisation with Answers to know their preparation level.
Students who are searching for NCERT MCQ Questions Class 12 Accounting for Not for Profit Organisation with Answers are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 12 Accounting for Not for Profit Organisation with Answers. You can also verify your answers from the provided MCQ Class 12 Accounting for Not for Profit Organisation with Answers. So, ace up your preparation with MCQ of Class 12 Accountancy Examinations.
MCQ Questions Class 12 Accounting for Not for Profit Organisation with Answers - Set - 3
Question 1:Â
Receipts and Payments A/c is a summary of:
(a) All Capital Receipts and Payments
(b) All Revenue Receipts and Payments
(c) All Revenue and Capital Receipts and Payments
(d) None of the above
Correct Answer – (C)
Question 2:Â
Identify capital receipt from the following:
(a) Life Membership Fees
(b) Rent Receipt
(c) Entrance fees
(d) Sports expenses.
Correct Answer – (A)
Question 3:Â
The opening balance of Prize Fund was Rs.32,800. During the year, donations received towards this fund amounted to Rs. 15,400; amount spent on prizes was Rs. 12,300 and interest received on prize fund investment was Rs.4,000. The closing balance of Prize Fund will be :
(a) Rs. 56,500
(b) Rs. 64,500
(c) Rs. 39,900
(d) Rs. 31,900
Correct Answer – (C)
Question 4:Â
The nature of Receipts and Payments Account is :
(a) Nominal Account
(b) Real Account
(c) Personal Account
(d) None of these U
Correct Answer – (B)
Question 5:Â
Capital fund is calculated:
(a) Income-Expenditure
(b) Assets Liabilities
(c) Capital + Liabilities
(d) None of these
Correct Answer – (B)
MCQ Questions Class 12 Accounting for Not for Profit Organisation With Answers
Question 6:Â
At the beginning of an accounting year a club has assets of Rs. 19,000 and liabilities of Rs.5,000. Rs. 1,800 is the debit balance of the income & expenditures account. The opening capital fund is
(a) Rs. 18,000
(b) Rs.11,200
(c) Rs.15,800
(d) Rs. 24,800
Correct Answer – (C)
Question 7:Â
Subscription received in advance during the accounting year is
(a) an income
(b) an expense
(c) Asset
(d) Liability
Correct Answer – (D)
Question 8:Â
Donations received for special purpose should be
(a) Credited to a separate fund account and shown in the Balance Sheet
(b) Treated as revenue
(c) treated as revenue unless the amount is large
(d) Not recorded at all
Correct Answer – (A)
Question 9:Â
If debit side of receipt and payment account exceeds the credit side, it represents:
(a) Deficit balance
(b) Surplus Balance
(c)Cash at Bank
(d) Bank Overdraft
Correct Answer – (C)
Question 10:Â
Second hand furniture worth Rs. 6,000 was purchased. It was repaired for Rs.600 and installed by workmen to whom Rs. 200 was paid as wages. The furniture should be capitalised for
(a) Rs.6,200
(b) Rs.6,800
(c) Rs. 6,600
(d) Rs. 6,000
