CBSE Class 12 Accountancy Accounting For Not For Profit Organisation Worksheet

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Practice daily with these Class 12 Accountancy chapter-wise worksheets to master Part 1 Chapter 1 Accounting for Not-for-Profit Organisation. Each paper has key questions and answers designed for school tests. Consistent practice of these Class 12 Accountancy questions guarantees better speed and accuracy for the 2026-27 term.

Part 1 Chapter 1 Accounting for Not-for-Profit Organisation Worksheet Download for Class 12 Accountancy

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

1. How would you treat the following in books of a Not-For_Profit organization? 
(i) Cash received for Governor’s party fund—` 40,000, expenses incurred on the Governors party ` 36,800.
(ii) Expenses incurred on a friendly cricket match—` 15,000
(iii) Prizes fund(1-1-18) ` 25,000
(iv) Contributions received during the year 2018 –` 45,000
(v) Prizes given during the year 2018 ` 62,000
 
2. Find out the amount of income from subscription to the taken to income and expenditure account for the year 31 Dec, 2018`
(i) Subscription received 25,000
(ii) Subscription due for 2018 1,600
(iii) Subscription due for 2017 1,800
(iv) Subscription received in advance in 2017- for 2018 `2,100
(v) Subscription received in advance in2018 for next year 2019 ` 200
(a) Calculate the subscription in statement form
(b) Also show the Balance Sheet Position on December 31, 2018.
 
3. From the following information find out the amount to be taken to income and expenditure accounts for the year ended Dec 31. 2018. 
(i) Salaries paid during 2018 30,000
(ii) Salaries outstanding on Dec 31, 2017 1,200
(iii) Salaries prepaid in 2017 for 2018 800
(iv) Salaries prepaid in 2018 for 2019 1,600
(v) Salaries outstanding on Dec 31, 2018 2,400
 
4. A club has a canteen for its members. From the following information show how the canteen trading account will be prepared for the year ending Dec 31-2018. 
i. Stock of Provisions 1-1-18 8,000
ii. Stock of Provisions 31-12-18 2,000
iii. Sales during the year 2018 30,000
iv. Purchases of Provisions during 2018 12,000
v. Salaries and wages of the workers 2,500
vi. Electricity expenses 1,500
vii. Furniture and equipment is worth as on Jan 1,2018 25,000
viii . Charge depreciation at 10% p.a
 
5. From the following extract of Receipt and Payment Account and the additional information given below, compute the amount of income from subscriptions for the year ending March 31, 2018 and the Balance Sheet on that date:
Receipts Amount Payments Amount 
                                                                (`)
Subscriptions:
 
                                    2016-17              7,000
                                    2017-18             30,000
                                    2018-19             5,000             42,000
 
Additional Information: `
 
1. Subscriptions outstanding March 31, 2017                         8,500
 
2. Total Subscriptions outstanding March 31, 2018                 18,500
 
3. Subscriptions received in advance as on March 31, 2018     4,000
 
6. From the following information calculate the amount of stationery to be debited to Income and Expenditure Account for the year ending 31st March, 2018.

CBSE Class 12 Accountancy Accounting For Not For Profit Organisation Worksheet 1

7. From the following Receipts and payments A/c show Subscription to be shown in Income and Expenditure A/c for the year ending 31st March 2018 and relevant items in the Balance sheet.
 
Receipts and Payments a/c

CBSE Class 12 Accountancy Accounting For Not For Profit Organisation Worksheet 2

 
The Charitable trust has 1,400 members each paying `400 as annual subscription. Outstanding Subscription as on 31-3-2017 was `75,000. 25 members paid their annual Subscription of 2013-2018 during 2016-2017.
 
8. Show the following in the Balance sheet of a not for profit organization:-

CBSE Class 12 Accountancy Accounting For Not For Profit Organisation Worksheet 3

Additional Information: Interest Accrued on Tournament Fund Investment `6,000.
 
9. On the basis of following information, calculate the Salaries for the year ending 31st December 2018 and show the relevant items in the Income and Expenditure account and the Balance sheet as on 31st Dec. 2018. Receipts and Payments Account for the year ending 31st Dec. 2018.
 
CBSE Class 12 Accountancy Accounting For Not For Profit Organisation Worksheet 4
(a) Salaries Outstanding on 31-12-2017              `25,000
(b) Salaries Outstanding on 31-12-2018              `45,000
(c) Salaries paid in advance on 31-12-2019         `10,000
 
10.Prepare an Income and Expenditure Account from the following Receipts and Payments Account for the year ended December 31st , 2018.

CBSE Class 12 Accountancy Accounting For Not For Profit Organisation Worksheet 5

The following additional information is provided:
a) Subscriptions include `12,000 for 2017 and `18,000 for 2018.
b) Stock of stationery on 31st Dec 2017 and 2018 was respectively `7,200 and `5,400.
c) Stock of Sports Material at the beginning and end of the year was `12,000 and `21,000 respectively.
d) Rent includes `4,000 paid for March, 2017. Rent for March, 2018 is outstanding.
e) Telephone expenses include `3,000 as quarterly rent up to 28th Feb. 2019.
f) The value of Building as on 31st Dec 2017, was ` 8,00,000 and you are required to write off depreciation at 10%.
g) The value of investments on 31st Dec, 2017 was `10,00,000

 

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Part 1 Chapter 1 Accounting for Not-for-Profit Organisation Practice Sheet & Solutions for Class 12 Accountancy

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