Question : Which of the following must be eliminated to calculate cash flow shown in the profit and loss account converted into receipts and payments?

Option 1: Non-cash expenses from the expenses which were incurred

Option 2: The non-cash revenue from the revenue which is earned

Option 3: Both 1 and 2

Option 4: None of the above

Question : Income and Expenditure account records:

Option 1: Revenue receipts and payments

Option 2: Capital receipts and payments

Option 3: Only revenue receipts

Option 4: Only capital payments

Question : The Receipts and Payments Account does not include:

Option 1: Capital receipts and payments

Option 2: Revenue receipts and payments

Option 3: Non-cash items

Option 4: None of these

Question : Which of the following item is not included in the Income and Expenditure Account?

Option 1: Revenue receipts and payments for current period

Option 2: Capital receipts and payments

Option 3: Non-cash expenses

Option 4: All of these

Question : Billiard Match Expenses Rs. 25,000. How are the following items shown in the financial statements of Not-for-Profit Organizations?

Option 1: There is No Specific Fund: Hence Rs 25,000 incurred as Billiard Match Expenses would be shown in the Debit side of the Income and Expenditure Account.

Option 2: There is No Specific Fund: Hence Rs 25,000 incurred as Billiard Match Expenses would be shown in the credit side of the Income and Expenditure Account.

Option 3: There is No Specific Fund: Hence Rs 25,000 incurred as Billiard Match Expenses would be shown in the Debit side of the profit and loss account.

Option 4: There is No Specific Fund: Hence Rs 25,000 incurred as Billiard Match Expenses would be shown in the credit side of the profit and loss account.

Question : Billiard Match Expenses Rs. 25,000. How are the following items shown in the financial statements of Not-for-Profit Organizations?

Option 1: There is No Specific Fund: Hence Rs 25,000 incurred as Billiard Match Expenses would be shown in the Debit side of the Income and Expenditure Account.

Option 2: There is No Specific Fund: Hence Rs 25,000 incurred as Billiard Match Expenses would be shown in the credit side of the Income and Expenditure Account.

Option 3: There is No Specific Fund: Hence Rs 25,000 incurred as Billiard Match Expenses would be shown in the Debit side of the profit and loss account.

Option 4: There is No Specific Fund: Hence Rs 25,000 incurred as Billiard Match Expenses would be shown in the credit side of the profit and loss account.