Question : Libraries run by charitable trusts are an example of:
Option 1: Partnership
Option 2: Not for profit organisation
Option 3: Companies
Option 4: Cooperatives
Correct Answer: Not for profit organisation
Solution : The primary goal of Not-for-Profit Organizations (NPOs) is the social welfare of society; profit is not the primary goal of these types of organizations. These kinds of organizations include hospitals, schools, trade unions, religious places, etc.
Question : Which year marked the third general election in India?
Option 1: 1952
Option 2: 1957
Option 3: 1962
Option 4: 1967
Question : The main source of revenue for 'not for profit' organisation is:
Option 1: Sale of goods
Option 2: Sale of periodicals
Option 3: Subscription from members
Option 4: Sale of assets
Question : Dividend received is
Option 1: Operating activity
Option 2: Financing activity
Option 3: Investing activity
Option 4: Cash and cash equivalents
Question : The adjustment required for overvaluation of closing stock, while calculating adjusted profit for calculate goodwill is
(A) reduction from concerned year's profit.
(B) reduction from next year's profit.
(C) addition to next year's profit.
(D) addition to previous year's profit
Choose the correct answer from the options given below:
Option 1: (A), (B) and (D) only
Option 2: (A) and (C) only
Option 3: (A) and (D) only
Option 4: (B), (C) and (D) only.
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile