Accounting for not for profit organisation MCQs | Class 12 Accountancy Chapter 1 (Part 2) MCQ Question and Answers

by | Jan 10, 2025 | General | 0 comments

 

Accounting for not for profit organisation MCQ Question Answers suitable for CUET 2025 from Class 12 Accountancy Chapter 1 (Part 2)

To score full marks in the CUET 2025 Accountancy exam, Practice Class 12 Accountancy Chapter 1 (Part 2) Accounting for not for profit organisation MCQ Test any number of times free on our website. These questions have been created by our experts from the latest Class 12 Accountancy Syllabus and as per latest exam pattern. Multiple Choice Questions (MCQs) are a type of objective assessment in which a person is asked to choose one or more correct answers from a list of available options. An MCQ presents a question along with several possible answers. Most of the exams in India including the CUET exam conduct an online test to check your knowledge.

Class 12 Accountancy Chapter 1 (Part 2) MCQs

1. Subscription paid by the members is shown as _____in the Receipt and Payment Account and as ____ in the Income and Expenditure Account.
a.
b.
c.
d.

2. Audit fees, Honorarium, Postage and courier, Advertisement, Sundry expenses Are shown In Respective accounts
a.
b.
c.
d.

3. Subscription received from members is to be Accounted on _______
a.
b.
c.
d.

4. Income and Expenditure Account reveals:
a.
b.
c.
d.

5. Income earned on fund/Donations/Investments is Credited to______
a.
b.
c.
d.

6. Subscription Confined to ____ Will only be shown in Income and Expenditure Account
a.
b.
c.
d.

7. Subscription received in cash during the year amounted to Rs. 55000. Subscription outstanding at the end of previous year was Rs. 1,500 and outstanding at the end of current year was Rs. 2,000. Subscription received in advance for next year was Rs. 1800. The amount credited to Income & Expenditure Account will be
a.
b.
c.
d.

8. Under not-for-profit organisation Accounts, excess of expenditure over income is called:
a.
b.
c.
d.

9. Subscription Received in 2016 -17 Amounting to Rs. 26000 Of which Rs. 5000 Relates to 2015-16 and 3000 Relates to 2017-18 and Rs. 5000 Is still receivable for Year 2016-17. then Income of subscriptions Received for year 2016-17 will be
a.
b.
c.
d.

10. Not-for-Profit Organisation Prepare Financial statements and them submit it to the statutory authority called _____
a.
b.
c.
d.

11. Payment of honorarium to A person is to be accounted as
a.
b.
c.
d.

12. Final Accounts of Not-for – profit Organisation Consists of: -
a.
b.
c.
d.

13. The opening balance of a Specific Prize Fund was Rs.150000. During the year, donations received towards this fund amounted to Rs. 12000; amount spent on prizes was Rs.18500 and interest received on prize fund investment was Rs. 6500. The closing balance of Prize Fund will be:
a.
b.
c.
d.

14. The funds raised by Non-Profit organisations are ______ to capital fund or general fund
a.
b.
c.
d.

15. _____ is prepared in order to check accuracy of ledger accounts
a.
b.
c.
d.

16. The surplus generated in the form of excess of income over expenditure is Not_____amongst the members
a.
b.
c.
d.

17. _____of Receipt and payment account records the receipts.
a.
b.
c.
d.

18. It is the amount received as per the will of a deceased person who may or may not specify the use of the amount: -
a.
b.
c.
d.

19. Income and Expenditure Account is Similar to _______
a.
b.
c.
d.

20. Which Of the Following is Incorrect?
a.
b.
c.
d.


 

 

To summarize, revising for free using our MCQs on Class 12 Accountancy Chapter 1 (Part 2) Accounting for not for profit organisation is highly beneficial for scoring full marks on the CUET 2025 Accountancy exam. We provide a sophisticated online test platform tailored for unlimited practice through proficiently crafted questions built on the most recent syllabus and exam pattern. Practicing MCQs regularly will boost conceptual understanding as they are significant for objective assessments. Start practicing now to succeed in your CUET 2025 Accountancy exam!

Also See : 

Class 12 Accountancy Part 1

Accounting for share capital MCQs Class 12 Accountancy Chapter 1 (Part 1)

Accounting for partnership: basic concepts MCQs Class 12 Accountancy Chapter 2 (Part 1)

Financial statements of a company MCQs Class 12 Accountancy Chapter 3 (Part 1)

Analysis of financial statements MCQs Class 12 Accountancy Chapter 4 (Part 1)

Accounting ratios MCQs Class 12 Accountancy Chapter 5 (Part 1)

Cash flow statement MCQs Class 12 Accountancy Chapter 6 (Part 1)

Class 12 Accountancy Part 2

Issue and redemption of debentures MCQs Class 12 Accountancy Chapter 2 (Part 2)

Reconstitution of a partnership firm – admission of a partner MCQs Class 12 Accountancy Chapter 3 (Part 2)

Retirement/death of a partner MCQs Class 12 Accountancy Chapter 4 (Part 2)

Dissolution of partnership firm MCQs Class 12 Accountancy Chapter 5 (Part 2)

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