Question :

A debit closing balance of Receipts and Payments Account show:

Option 1:

Closing balance of cash in hand and bank

Option 2:

Closing balance of capital fund

Option 3:

Balance of net assets

Option 4: Bank overdraft

Question :

General donations are treated as:

Option 1:

Revenue receipt

Option 2:

Capital receipt

Option 3: Revenue expenditure

Option 4: Capital expenditure

Question :

The founder of the independent Sikh state was :

Option 1:

Guru Nanak

Option 2:

Guru Govind Singh

Option 3:

Dalip Singh

Option 4: Ranjit Singh

Question :

A credit balance of Income and Expenditure for the year shows:

Option 1:

Surplus earned

Option 2:

Deficit incurred

Option 3: Capital fund

Option 4: None of these

Question :

Which of the following show the debit balance of Income and Expenditure Account?

Option 1:

Capital fund

Option 2:

Closing balance cash in hand and bank

Option 3:

Excess of income over expenditure

Option 4: Excess of expenditure over income