Accounting for Not-for-Profit Organisations
Commerce ⇒ Accountancy
Accounting for Not-for-Profit Organisations starts at 11 and continues till grade 12.
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See sample questions for grade 12
A club has a capital fund of ₹50,000 at the beginning of the year. During the year, it has a surplus of ₹5,000 and receives a donation for building fund of ₹10,000. What will be the capital fund at the end of the year (excluding building fund)?
A club received a legacy of ₹20,000. How should it be shown in the accounts?
A club received subscription of ₹10,000 in the current year, out of which ₹1,000 relates to the previous year and ₹2,000 is for the next year. What amount should be credited to Income and Expenditure Account for the current year?
A club received subscription of ₹12,000 during the year. Subscription outstanding at the beginning and end of the year were ₹1,000 and ₹2,000 respectively. Calculate the amount of subscription to be credited to Income and Expenditure Account.
Explain the difference between Receipts and Payments Account and Income and Expenditure Account.
Explain the term 'Endowment Fund' in Not-for-Profit Organisations.
Explain the treatment of expenses paid in advance in the final accounts of a Not-for-Profit Organisation.
Explain the treatment of government grants received by a Not-for-Profit Organisation.
State the meaning of 'Honorarium' in the context of Not-for-Profit Organisations.
State the meaning of 'Legacy' in the context of Not-for-Profit Organisations.
State the meaning of 'Subscription' in the context of Not-for-Profit Organisations.
What is the accounting treatment of consumable items purchased by a Not-for-Profit Organisation?
What is the accounting treatment of entrance fees received by a Not-for-Profit Organisation?
What is the accounting treatment of sale of old assets in the books of a Not-for-Profit Organisation?
What is the accounting treatment of specific donations received by a Not-for-Profit Organisation?
What is the difference between general donation and specific donation?
What is the main objective of preparing accounts for Not-for-Profit Organisations?
What is the nature of the balance of Income and Expenditure Account?
What is the purpose of preparing a Balance Sheet for a Not-for-Profit Organisation?
