Question

True /False

1. ( R) Life membership fees and Endowment Fund are examples of capital Receipts.

2. ( A)Creditors for Stationary in the beginning of the year are added to the amount of stationary purchase while

calculating the amount of stationary consumed during the year .

3. ( U )Both revenue and capital payment are shown on the expenditure side of Income and Expenditure Account.

4. ( A )Subscriptions in Arrears at the end of the year has a debit balance.

5. ( R)Specific donations are shown in the asset side of Balance Sheet.

6. ( A) Surplus increases the credit balance of capital.

7. ( U )A NPO distributes its surplus or deficit to its members.

8. ( U )Outstanding subscription is an asset.

9. ( A)Deficit in an NPO is debit balance of Receipts and Payments Account.

10. ( R)/Capital Fund normally has a credit balance.​

Answer 1

Answer:

1 true

2true

3true

4false

5true

6true

7false

8true

9true

10false