The amount or property received by a non - profit organization as stated by the will of a decreased person is commonly referred to as ___________

(a)

Donation

(b)

Honorarium

(c)

Legacy

(d)

Endowment

Some organisations are established for the purpose of rending services to the public without __________

(a)

any profit motive

(b)

any service motive

(c)

both

(d)

none of these

If the donation is received without any specific condition, then it is a __________

(a)

general donation

(b)

specific donation

(c)

donation fund

(d)

none of these

Which of the following is generally considered as a non profit organisation?

(a)

Charitable organisation

(b)

Corporation

(c)

Audit firms

(d)

Insurance companies

Non- profit organizations prepare all of the following accounts except the __________

(a)

Receipts and Payments accounts

(b)

Income and Expenditure accounts

(c)

Balance sheet

(d)

Income statement