Accounting for ...

The affairs of the not-for-profit organisations are usually managed by a managing/executive committee elected by its _______.

If an organisation has followed the _______ entry system, they must prepare a trial balance for checking the accuracy of the ledger accounts.

Given : Stock of stationery on Jan. 1, 2015 Rs 200; payments for stationery during 2015 Rs 1,000; and stock of stationery on Dec. 31, 2015 Rs 50.
What will be the amount posted to Income and Expenditure A/c for the year ending Dec. 31, 2015?

Not-for-Profit organisations refer to the organisations that are used for the welfare of the _________ and are set up as charitable institutions which function without any profit motive.

Consider the following statements.
1. Operational loss is a source of funds
2. Decrease in working capital is a source of funds
3. Addition to fixed assets are an application of funds
4. Fresh introduction of capital is an application of funds
Which of the above statements are applicable while preparing the funds flow statement?

Non-profit earning companies are mostly formed as ______________.

Income and Expenditure Account records income and expenditure item of ____________________.

Income and Expenditure account is similar to __________ account.

Income and expenditure account is called ________.

The income and expenditure account is prepared on the basis of __________ system of accounting.