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 : When the tournament expenses incurred are more than the tournament fund, then the excess amount is :

Option 1: Credited to tournament fund 

Option 2: Debit side of Income and Expenditure Account 

Option 3: credit side of Income and Expenditure A/c

Option 4: Assets side of Balance sheet 

Question : Tournament Fund Rs. 2,00,000; Tournament Expenses Rs. 60,000; Receipts from Tournament Rs. 80,000.
How are the following items shown in the financial statements of Not-for-Profit Organizations?

Option 1: Tournament fund Balance to remain in the Liabilities side of the Balance Sheet Rs.2,20,000

Option 2: Balance to remain in the  Assets side of the Balance Sheet Rs.2,20,000

Option 3: Balance to remain in the Liabilities side of the Balance Sheet Rs.2,80,000

Option 4: Balance to remain in the income  side of the  income and expenditure account Rs.2,20,000

Question : Tournament Fund Rs. 2,00,000; Tournament Expenses Rs. 60,000; Receipts from Tournament Rs. 80,000.
How are the following items shown in the financial statements of Not-for-Profit Organizations?

Option 1: Tournament fund Balance to remain in the Liabilities side of the Balance Sheet Rs.2,20,000

Option 2: Balance to remain in the  Assets side of the Balance Sheet Rs.2,20,000

Option 3: Balance to remain in the Liabilities side of the Balance Sheet Rs.2,80,000

Option 4: Balance to remain in the income  side of the  income and expenditure account Rs.2,20,000