Question : Entrance/Admission Fee received by the NPO is:

Option 1: Added to the Capital fund in Balance Sheet.

Option 2: transferred to the credit of Income and Expenditure A/c

Option 3: shown in the debit of Income and Expenditure A/c

Option 4: shown as a separate item in the Liabilities side of the Balance Sheet.

Question : Salaries paid Rs 4,500 and salaries debited to Income and Expenditure Account is Rs 5,000, where would the difference be transferred?

Option 1: assets side of closing Balance Sheet

Option 2: assets side of opening Balance Sheet

Option 3: Liabilities side of closing Balance Sheet

Option 4: Liabilities side of opening Balance Sheet

Question : Rent received Rs 3,500 and rent credited to Income and Expenditure Account is Rs 4,000, where would the difference be transferred?

Option 1: outstanding Rent Rs 500 shown on the liabilities side of balance sheet 

Option 2: outstanding Rent Rs 500 shown on the assets side of balance sheet 

Option 3: Rs 500 Rent received in advance shown on the liabilities side of balance sheet 

Option 4: Rs 500 paid in advance shown on the assets side of balane sheet 

Question : Subscription received for special events is

Option 1: recorded in the debit of Receipts and Payments Account and in the debit of Income and Expenditure Account in the year of receipt.

Option 2: recorded in the debit of Receipts and Payments Account and in the credit of Income and Expenditure Account in the year of receipt.

Option 3: recorded in the debit of Receipts and Payments Account and shown in the assets side of the Balance Sheet till the time event is held.

Option 4: recorded in the debit of Receipts and Payments Account and shown in the liabilities side of the Balance Sheet till the time event is held.

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