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Preparing Financial Statements of NPO-I

All receipts ...

Question

All receipts of capital nature are shown in :

A

Income and Expenditure A/c

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B

Balance Sheet

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C

Profit and Loss A/c

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D

None of these

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Solution

The correct option is B
Balance Sheet

All receipts of capital nature are shown in balance sheet.

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Similar questions

Q. (I) In Receipt & Payment A/c all receipts and payments are shown irrespective of the year to which they pertain.
(II) The difference at Dr. side of Receipt & Payment A/c account is known as surplus or deficit and deducted from capital fund.
(III) Income & Expenditure A/c is always accompained by balance sheet.

Select the correct answer.

Q. Which of the following statement is correct and which is incorrect ?
(I) In Receipt & Payment A/c all receipts and payments are shown irrespective of the year to which they pertain.
(II) The difference at Dr. side of Receipt & Payment A/c account is known as surplus or deficit and deducted from capital fund.
(III) Income & Expenditure A/c is always accompanied by balance sheet.
(IV) Going concern assumption is not relevant for accounting of non-profit organization.
Select the correct answer from the options given below.

Q. All receipts of nature are shown in the balance sheet

Q. Income and Expenditure account is ________ by balance sheet whereas Receipt and Payment account is __________by balance sheet

Receipts and Payments A/c is a summary of ___

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