Question :

Which of the following will not appear on the asset side of the Balance Sheet of a Social Club?

Option 1: Honorarium

Option 2: Sports fund Investment

Option 3: Balance of cash in hand and Bank

Option 4: Outstanding Subscription

Question :

The surplus generated by a not-for-profit organisation is:

Option 1: Distributed amongst the members

Option 2: Added to capital fund

Option 3: Credited to a special fund

Option 4: None of these

Question :

General donations are treated as:

Option 1:

Revenue receipt

Option 2:

Capital receipt

Option 3: Revenue expenditure

Option 4: Capital expenditure

Question :

As all other business concerns be its sole proprietorship or partnership have capital, a not-for- profit organisation has:

Option 1:

capital fund

Option 2: general fund

Option 3: any of these

Option 4: none of these

Question : Which of the following is an appropriation of profit?

Option 1: Interest on Loan

Option 2: Interest on Partner's Capital

Option 3: Salary to Manager

Option 4: Rent