CBSE Class 12 Accountancy Not For Profit Organisation Worksheet Set A

Question: How much amount will be shown in Income and Expenditure Account in the following case?

During 2019-20 payment made to Creditors for Stationery was Rs.50,000.
Cash purchases of Stationery Rs.10,000.
(A) Rs.57,800
(B) Rs.62,200
(C) Rs.61,800
(D) Rs.58,200
Answer: A

Question: How will you show the following in Balance sheet of Cricket stadium?
Pavilion Fund as on 31.03.2020 Rs.5,00,000; Expenditure on construction of Pavilion Rs.3,00,000; Capital Fund as at 31.03.2020 Rs.9,00,000.
(A) Capital Fund Rs.9,00,000, Pavilion Fund Rs.2,00,000 & Pavilion in Progress Rs.5,00,000
(B) Capital Fund Rs.12,00,000, Pavilion Fund Rs.2,00,000 & Pavilion in Progress Rs.3,00,000
(C) Capital Fund Rs.6,00,000, Pavilion Fund Rs.5,00,000 & Pavilion in Progress Rs.3,00,000
(D) Capital Fund Rs.6,00,000, Pavilion Fund Rs.2,00,000 & Pavilion in Progress Rs.3,00,000
Answer: B

Question: If Salaries debited to Income & Expenditure account is Rs.54,000 after adjusting prepaid salaries at the beginning of the year Rs.2,000, outstanding salaries of previous year Rs.6,000 and outstanding salaries of current year Rs.9,000, then Salaries paid during the current year will be:
(A) Rs.59,000
(B) Rs.63,000
(C) Rs.49,000
(D) Rs.37,000
Answer: C

Question: Income and Expenditure account is prepared according to ___________ concept of accounting.
Answer: Accrual

Question: Receipts and Payment account makes no distinction between _________ and ___________ receipts and payments.
Answer: Capital, Revenue

Question: Excess of expenditure over income is ___________ from ____________ in the Balance Sheet.
Answer: Deducted, Capital Fund

Question: Accrued interest on Tournament Fund Investment is added to _________ on liability side and to _____________ on assets side of Balance Sheet.
Answer: Tournament Fund, Tournament Fund Investment

Question: Adjustments for outstanding expenses and prepaid expenses is not made in ______________ account as it is based on _____________ basis of accounting.
Answer: Receipts & Payments, Cash

Question:When Match expenses incurred are more than Match Fund, the excess amount is shown on __________ side of _______________.
Answer: Debit, Income and Expenditure account

Question: In a school, Books are treated as ___________ expenditure and periodicals as ___________ expenditure.
Answer: Capital, Revenue

Question: Depreciation is not recorded in Receipts and Payment account because it is ____________.
Answer: Non-cash item/expense

Question: Interest received on specific fund investment is ........... receipts.
Answer: Capital