Donations

Q.

Donation received for specific objective will be shown :

1. On capital and liabilities side of balance sheet

2. In income and expenditure account

3. On assets side of balance sheet

4. None of these

Q.

Donation received for a special purpose :

1. should be credited to Income and Expenditure Account

2. should be credited to separate account and shown in the Balance Sheet.

3. should be shown on the assets side.

4. should not be recorded at all

Q. donations received are shown in the receipts and payments account.

1. Only general
2. Only specific
3. Only limited
4. General and specific

Q. Donation received for creating a building can be classified as a/an .

1. general donation
2. specific donation
3. irregular donation
4. regular donation

Q.

Donations received in cash for Rs. 5, 000 for promoting objectives of organisation are shown on ______________

1. Debit side of Receipts and Payment Account

2. Receipt side of Receipts and Payment Account

3. Either Debit or receipt side if Receipts and Payment Account

4. Liabilities side of Balance Sheet

Q. Any amount received towards an endowment fund is a __________ receipt.

1. Ordinary
2. Revenue
3. Special
4. Capital

Q.

The donations that can be used only for the limited purpose is called ______________

1. None of these

2. Special Donation

3. Specific Donation

4. General Donation

Q.

Donations are received for ____________ purpose.

1. none of these

2. specific

3. general

4. either specific or general

Q.

Name an item which is never shown on the Payments side of

`Receipts and Payments Account, but is shown as an Expense while

preparing Income and Expenditure Account.

Q. is like a gift in cash or kind received from some person/organisation who wants to help the cause of the NPO.

1. Subscription
2. Advance
3. Entrance Fee
4. Donation

Q. If a small amount is received as specific donation the __________.

1. it is shown on the liabilities side of the balance sheet
2. it is shown by way of deduction in capital fund in liability side of the balance sheet
3. None of the above
4. it is treated as income and credited to income and expenditure account

Q.

______________ are like a gift in cash or kind received from some person or organisation who wants to help the cause of the NPO.

1. Donations

2. Subscription

3. Advances

4. None of these

Q. Donations are received for purpose.

1. only specific
2. only general
3. specific or general
4. only capital

Q.

Donation to promote general objectives of the organisation is called _____________

1. Specific Donation

2. General Donation

3. Special Donation

4. None of these

Q. General donations are shown in which side of income and expenditure account?

1. Credit
2. Debit

Q. Cash sales to Radhika Rs 15, 000 was shown as receipt of commission in the cash book.
This is the error of ...........
State the wrong entry recorded in the book of accounts
Correct effect should have been
The rectification entry will be

Q. Goods worth Rs.15, 000 purchased from Tarun for cash will be recorded in________.

1. Sales book
2. Cash book credit side
3. Journal book
4. Stock register

Q. Write a word/ term / phrase as a substitute for the following statements:
A gift given by a person to a concern as per the will.