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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