Adaptive Practice
Accounting for Not-for-Profit Organisations
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Question 1 of 10
⏱ 0:30
Easy
Which of the following is NOT a characteristic of Not-for-Profit Organisations (NPOs)?
Easy
In the Receipt and Payment Account of an NPO, which of the following is recorded?
Easy
Which account is prepared to show the surplus or deficit of an NPO for a particular year?
Medium
How is a donation received for a specific purpose (e.g., building fund) treated in the accounts of an NPO?
Medium
Which of the following is TRUE about the Capital Fund of a Not-for-Profit Organisation?
Medium
In the Income and Expenditure Account, which of the following items is NOT recorded?
Medium
If a subscription of ₹50,000 is received during the year, out of which ₹5,000 relates to the next year, how will it be treated in the Income and Expenditure Account?
Hard
A Not-for-Profit Organisation received a donation of ₹1,00,000 for purchasing a building. How will this be recorded?
Hard
Which of the following statements about the Balance Sheet of an NPO is correct?
Hard
How is an outstanding subscription treated in the final accounts of a Not-for-Profit Organisation?