Non Profit Organization MCQs

By: Prof. Dr. Fazal Rehman | Last updated: May 29, 2025

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1. : An entity operated to serve members rather than earn profit is called a cooperative



2. : Non-trading concerns prepare



3. : Which account is not prepared by non-trading concerns?



4. : A summary of cash book represents:



5. : The main source of income of non-trading concerns is:



6. : A primary report by the treasurer of non-trading concerns showing the year’s cash position is called a receipts and payments account.



7. : Receipts & payments account is classified as:



8. : Incomes & expenditures account are:



9. : An account used to determine shortages in non-trading concerns is called an income and expenditure account.



10. : Receipts & payments accounts include:



11. : If the credit side of income expenditures account exceeds debit side, it represents:



12. : If debit side of incomes expenditures account is greater than its credit side, it signifies:



13. : Non-trading concerns are governed by:



14. : If the credit side of receipts payments account exceeds its debit side, it is termed as:



15. : If the debit side of receipts payments account is greater than credit side, it shows:



16. : Any subscription received by non-trading concerns is credited to:



17. : Incomes & expenditures account is debited with all:



18. : Accrued subscription represents:



19. : Subscription acknowledged in advance is considered as:



20. : Subscription outstanding is credited to:



21. : Receipts are recorded on the debit side of:



22. : Payments are recorded on the credit side of the:



23. : Receipts & payments account is prepared on:



24. : Incomes & expenditures account is prepared on:



25. : Incomes & expenditures account is started with:



26. : Legacy is generally treated as:



27. : Payment of honorarium is considered:



28. : Honorarium paid should be debited to:



29. : The receipts and payments account is a summary of:



30. : Donation received in heavy amount is considered as:



31. : Which item is not recorded in the receipts & payments account?



32. : Outstanding earnings are considered as



33. : Capital fund is also called:



34. : Missing figure of general fund is calculated through



35. : Accumulated fund is known as:



36. : Receipts from sale of magazine is considered as



37. : Capital receipts & payments are excluded from:



38. : In Incomes & expenditures account:



39. : In receipts & payments account:



40. : Any income received from fund will be presented as



41. : Which of the following item is entered in the receipts & payment account?



42. : Gift presented to chief guest at annual function in non-trading concerns is called:



43. : Which of the following items are not presented in the balance sheet?



44. : Which of the following is generally considered as a non-profit oriented organization?



45. : The receipts and payments account of a non-profit organization is a



46. : An advance receipt of subscription from a member of a non-profit organization is considered as



47. : Income and expenditure account is based on:



48. : Which of the following is regarded as apt to show the purchase of a fixed asset?



49. : Which of the following is to be recorded in an expenditure account?



50. : Honorarium is paid to a non-employee. Which of the following statements is true about the honorarium payment?



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