Read and download free pdf of CBSE Class 12 Accountancy Accounting For Not For Profit Organisation Worksheet. Download printable Accountancy Class 12 Worksheets in pdf format, CBSE Class 12 Accountancy Part 1 Chapter 1 Accounting for Not-for-Profit Organisation Worksheet has been prepared as per the latest syllabus and exam pattern issued by CBSE, NCERT and KVS. Also download free pdf Accountancy Class 12 Assignments and practice them daily to get better marks in tests and exams for Class 12. Free chapter wise worksheets with answers have been designed by Class 12 teachers as per latest examination pattern
Part 1 Chapter 1 Accounting for Not-for-Profit Organisation Accountancy Worksheet for Class 12
Class 12 Accountancy students should refer to the following printable worksheet in Pdf in Class 12. This test paper with questions and solutions for Class 12 Accountancy will be very useful for tests and exams and help you to score better marks
Class 12 Accountancy Part 1 Chapter 1 Accounting for Not-for-Profit Organisation Worksheet Pdf
MCQ Questions for NCERT Class 12 Accountancy Accounting For Not- For - Profit Organisations
Question: The amount of ‘Entrance Fees’ received by a Non-profit organisation (if it is received regularly) is shown in which of the following?
(a) Liability side of Balance Sheet
(b) Assets side of Balance Sheet
(c) Debit side of Income and Expenditure Account
(d) Credit side of Income and Expenditure Account
Answer: D
Question: Which of the following is not a not-for-profit organisation?
(a) College
(b) Sports Club
(c) SBI Bank
(d) Hospital
Answer: C
Question: Out of following items, which one is shown in the Receipts and Payments Account?
(a) Outstanding Salary
(b) Depreciation
(c) Life Membership Fees
(d) Accrued Subscription
Answer: C
Question: Subscription received by a school for organising annual function is treated as:
(a) Capital Receipt (i.e., Liability)
(b) Revenue Receipt (i.e., Income)
(c) Asset
(d) Earned Income
Answer: A
Question: Subscription received in cash during the year amounted to Rs.5,00,000; Subscription outstanding at the end of previous year was Rs.20,000 and outstanding at the end of current year was Rs.25,000. Subscription received in advance for next year was Rs.8,000 and received in advance during previous year was Rs.7,000. The amount credited to Income & Expenditure Account will be:
(a) Rs.5,04,000
(b) Rs.5,06,000
(c) Rs.4,96,000
(d) Rs.4,94,000
Answer: A
Question: Endowment Fund should be treated as:
(a) A Liability
(b) A Revenue Receipts
(c) An Income
(d) None of these
Answer: A
Question: There are 100 members, each paying an annual subscription of Rs.70,000; subscription received during the year Rs.71,95,000; subscriptions received in advance at the beginning of the year Rs.73,000 and at the end of the year Rs.72,000. Amount of Subscription outstanding at the beginning of the year will be:
(a) Rs.2,00,000
(b) Rs.1,96,000
(c) Rs.1,94,000
(d) Rs.2,01,000
Answer: B
Question. Receipts and payments account makes no difference between:
(a) Capital Receipts and Capital payments
(b) Revenue receipts and revenue payments
(c) Current year and previous year
(d) All the above.
Answer: D
Question. Which of the following is not a revenue receipt?
(a) Donations for Tournament
(b) Government Grants
(c) Subscriptions
(d) Entrance Fees
Answer: A
Question. Which of the following is not a capital receipt?
(a) Donations for tournament
(b) Donations for building fund
(c) Life membership fee
(d) Entrance fees
Answer: D
Question. Specific Donation received by NPO is shown in the
(a) Credit side of Income and Expenditure Account,
(b) Debit side of Income and Expenditure Account
(c) Liabilities side of Balance Sheet.
(d) As is decided by the management.
Answer: C
Question. Capital fUnd is calculated:
(a) Income-Expenditure
(b) Assets Liabilities
(c) Capital + Liabilities
(d) None of these
Answer: B
Question. 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
Answer: C
Question. Identify capital receipt from the following:
(a) Life Membership Fees
(b) Rent Receipt
(c) Entrance fees
(d) Sports expenses.
Answer: A
Question. 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
Answer: C
Question. Which of the following is directly added to the capital fund on the liabilities side of the Balance Sheet?
(a) Life membership fees
(b) Legacies
(c) Entrance Fees
(d) All of these
Answer: A
Question. Income and Expenditure Account is prepared on
(a) Cash Basis.
(b) Accrual Basis.
(c) Both (a) and (b).
(d) Sales Basis,
Answer: B
Question. Income and Expenditure Account generally indicates:
(a) Surplus/Deficit
(b) Cash Balance
(c) Capital Fund
(d) Net Profit/Loss
Answer: A
Question. Receipts and Payments Account is prepared on
(a) Cash Basis.
(b) Time Basis.
(c) Accrual Basis.
(d) Sales Basis.
Answer: A
Question. Furniture as on 31st March, 2019 Rs. 4,40,000. Furniture (having Book value as on 1st April, 2018 of Rs. 40,000) sold at a loss of 20% on 31st December, 2018. Furniture is depreciated @ 10% p.a. Furniture costing Rs. 3,00,000 was also purchased on 1st October, 2018. Calculate Loss on sale of furniture.
(a) Rs. 9,400
(b) Rs. 6,400
(c) Rs. 8,000
(d) Rs. 7,400
Answer: D
Question. Which of the following is an example of not-profit-organisation:
(a) Public hospitals
(b) Corporations
(c) Audit firm
(d) Insurance companies.
Answer: A
Question. Subscription received during the year 50,000 Rs. Subscriptions outstanding at the end of the year 8,000 Rs. Subscription outstanding at the beginning of the year 6,000 Rs. Net Income from subscription will be :
(a) 48,000 Rs.
(b) 64,000 Rs.
(c) 52,000 Rs.
(d) 36,000 Rs.
Answer: C
Question. Donation received for a special purpose:
(a) Should be credited to Income and Expenditure Account
(b) Should be credited to separate account and shown in the Balance Sheet
(c) Should be shown on the assets side
(d) Should not be recorded at all.
Answer: B
Question. Subscription received by an organisation is:
(a) Capital Receipt
(b) Revenue Receipt
(c) Both (a) and (b)
(d) None of the above
Answer: B
Question. Subscription received in cash during the year amounted to Rs.5,00,000; subscription outstanding at the end of previous year was Rs.20,000 and outstanding at the end of current year was Rs.25,000. Subscription received in advance for next year was Rs. 8,000 and received in advance during previous year was Rs.7,000. The amount credited to Income & Expenditure Account will be :
(a) Rs.5,04,000
(b) Rs.5,06,000
(c) Rs.4,96,000
(d) Rs.4,94,000
Answer: A
Question. Out of the following items, which is shown in the ‘Receipts and Payments A/c’ of a not for profit organisation?
(a) Subscription received in advance
(b) Last year subscription received
(c) Current year subscription received
(d) All of the above
Answer: D
Question: A non-profit organization received Rs.10,000 as the entrance fee of a new member. If 20% of the fee has to be capitalised, what is the amount of fee needs to be shown in the income and expenditure account?
(a) Rs.9000
(b) Rs.8000
(c) Rs.2000
(d) Rs.5000
Answer: B
Please click on below link to download CBSE Class 12 Accountancy Accounting For Not For Profit Organisation Worksheet
CBSE Class 12 Accountancy Accounting For Not For Profit Organisation Worksheet |
CBSE Class 12 Accountancy Not For Profit Organisation Worksheet Set A |
CBSE Class 12 Accountancy Not For Profit Organisation Worksheet Set B |
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CBSE Class 12 Accountancy Financial Statements of A Company Worksheet |
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CBSE Class 12 Accountancy Tools of Analysis Worksheet Set A |
CBSE Class 12 Accountancy Tools of Analysis Worksheet Set B |
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CBSE Class 12 Accountancy Part 1 Chapter 1 Accounting for Not-for-Profit Organisation Worksheet
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