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 :

The amount received on the sale of furniture will be shown on:

Option 1: Credit side of Income and Expenditure

Option 2: Debit side of Income and Expenditure Account

Option 3: Debit side of Receipts and Payments Account

Option 4: Credit side of Receipts and Payments Account

Question : Subscription received in advance by a club are shown in the:

Option 1: Credit side of Income and Expenditure Account

Option 2: Credit side of Receipts and Payments Account

Option 3: Liability side of the Balance Sheet

Option 4: Asset side of the Balance Sheet

Question : Amount received from the sale of old sports equipments will be shown in:

Option 1: Debit of Income and Expenditure A/c

Option 2: Debit of Receipts and Payments A/c

Option 3: Liabilities side of Balance Sheet

Option 4: Asset 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