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12th Standard English Medium Accountancy Subject Accounts of Not-For-Profit Organisation Creative 2 Mark Questions with Solution Part - I updated Creative Questions Question Bank Software May-13 , 2022

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12th Standard English Medium Accountancy Subject Accounts of Not-For-Profit Organisation Creative 2 Mark Questions with Solution Part - I updated Creative Questions

12th Standard English Medium Accountancy Subject Accounts of Not-For-Profit Organisation Creative 2 Mark Questions with Solution Part - I

12th Standard

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Accountancy

Time : 00:30:00 Hrs
Total Marks : 10
    5 x 2 = 10

  1. What are the features of not-for-profit organizations?

  2. Explain the steps in preparations of receipts and payments account.

  3. Write a note on Donations

  4. Can the balance in receipts and payments account be treated as income of the period? If it shows credit balance  what does it mean?

  5. Distinguish between income and expenditure account and profit and loss account

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