Accountancy Tes...

The Receipt and Payment account is a summary of:

M/s X Limited has incurred Rs. 50,000 on increasing the seating capacity of a cinema hall. Which type of expenditure this pertains to?

The amount of ‘Subscription received from members’ by a Non-profit organisation is shown in which of the following?

Which of the following is not the characteristics of Income and Expenditure account?

The following information in respect of M/s Niti Enterprises is given:

(i) Subscription received in 2017 is Rs 2,45,000 which is including Rs. 20,000 for 2016 and Rs. 15,000 for 2018.

(ii) Subscription due but not received at the end of the year 2017 is Rs. 19,000.

(iii) Subscription received in 2016 in advance for 2017 was Rs. 18,400.

Calculate the amount of subscription to be credited to Income and Expenditure account for the year 2017.

Not for profit organization includes ______

The item which is not shown in the Receipts and Payments account of an institution is

Which of the following will be credited to the income-expenditure account of a college?

1. Tuition fee paid by the students.

2. Cost of science laboratory equipment.

3. Fine collected by the officer from the students.

4. Cost of prizes.

Select the correct answer using the code given below:

All those income which neither increases financial liabilities nor reduces assets.

Income and Expenditure Account is prepared on ______ basis.