Question : Specific Donation received by NPO are shown in the: 

Option 1: Credit side of income and expenditure account 

Option 2:  Debit side of income and expenditure account 

Option 3:  Assets side of balance sheet 

Option 4: Liabilities side of balance sheet 

Question : If there is a tournament Fund, then Match Expenses are transferred to

Option 1: Income and Expenditure A/c.

Option 2: Assets side of Balance Sheet.

Option 3: Match Fund in Liabilities side of Balance Sheet.

Option 4: Both Income and Expenditure A/c and to Balance Sheet.

Question : If there is a tournament Fund, then Match Expenses are transferred to

Option 1: Income and Expenditure A/c.

Option 2: Assets side of Balance Sheet.

Option 3: Match Fund in Liabilities side of Balance Sheet.

Option 4: Both Income and Expenditure A/c and to Balance Sheet.

Question : If there is a Match Fund then Match expenses and Income are transferred to 

Option 1: Assets side of balance sheet 

Option 2: Income and Expenditure  A/c

Option 3: Liabilities side of Balance sheet 

Option 4: Both Income and Expenditure A/c and Balance sheet 

Question : Tiger Club has a prize fund of Rs.8,00,000. It incurs expenses on prizes amounting to Rs.6,00,000. The expenses should be:

Option 1: To be shown on the assets side of the balance sheet.

Option 2: To be deducted from the prize fund on the liabilities side of balance sheet

Option 3: Debited to Income and expenditure A/c

Option 4: To be deducted from the prize fund on the liabilities side of balance sheet and debited to Income and Expenditure A/c