fill in the blanks with appropriate word s 567612

Aug 29, 2021 | Uncategorized

Fill in the blanks with appropriate word(s)

  1. The primary motive of NPO is to _______.
  2. The net result of the activities of Not for profit is termed as or _______.
  3. The Receipt and Payment Account is _______ Account.
  4. The Receipt and Payment Account starts with the opening Balance of _______ and _______.
  5. The Receipt and Payment Account ending with the Closing Balance of _______ and _______.
  6. The Receipt and Payment Account does not record _______ items.
  7. The Receipt and Payment Account records both _______ and _______ nature items.
  8. An Income and Expenditure Account is _______ to Account like Profit and Loss Account.
  9. An Income and Expenditure Account records only those items which are of _______ nature.
  10. In an Income and Expenditure Accounts the balance at the end represents either _______ on _______.
  11. The Net Surplus or Net Deficit arrived at an Income and Expenditure Account is transferred to the capital fund in _______.
  12. Outstanding Expenses at the end of current year is treated as _______ end recorded in the balance sheet.
  13. Income Received in Advance during an accounting period is treated as _______ and recorded in the balance sheet.
  14. Likewise expenses spent in advance is _______.
  15. Outstanding Income is _______.
  16. Specific Donations are treated as _______ in preparation of Income and Expenditure Account.
  17. Receipts as per pass book should be _______ by cheque deposited but not collected at the end of the year.
  18. Life Membership Subscription is classified as _______ and so does not find place in Income and Expenditure Account.
  19. Expenses paid for current year and incomes received for current year shall not be recorded in the _______.
  20. Final accounts prepared for professionals is termed as _______ Account and not Income and Expenditure Account.
  21. Provision for outstanding fees and charges at the end of the year is _______ in Receipts and Expenditure Account.
  22. If income is Rs 25,700 and deficit debited to capital fund is Rs 9,300 expenditure is _______.
  23. Entrance fees received is Rs 9,000. 40% should be capitalised. Amount to be recorded in Income and Expenditure is Rs _______.
  24. Value of Books at the beginning of an accounting year is Rs 20,000. Books Purchased during the year is Rs 5,000. If its value is depreciated @ 10%, it is Rs _______.
  25. Sports materials at the beginning of an accounting year is Rs 9,000. Purchased during the year Rs 6,000. Stock of sports materials at the end of the year is Rs 2,500, value of sports materials to be entered in Income and Expenditure Account is Rs _______.