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Test: Financial Statements Of Non Profit Organization - 2


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10 Questions MCQ Test Accountancy Practice Tests: CUET Preparation | Test: Financial Statements Of Non Profit Organization - 2

Test: Financial Statements Of Non Profit Organization - 2 for Commerce 2022 is part of Accountancy Practice Tests: CUET Preparation preparation. The Test: Financial Statements Of Non Profit Organization - 2 questions and answers have been prepared according to the Commerce exam syllabus.The Test: Financial Statements Of Non Profit Organization - 2 MCQs are made for Commerce 2022 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Financial Statements Of Non Profit Organization - 2 below.
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Test: Financial Statements Of Non Profit Organization - 2 - Question 1

All revenues and expenses of a Non-profit organisation are reported on its statement of

Test: Financial Statements Of Non Profit Organization - 2 - Question 2

All assets and liabilities of Non-profit organisation are reported on its statement of

Detailed Solution for Test: Financial Statements Of Non Profit Organization - 2 - Question 2

The correct option is B.

A non-profit organisation’s statement of financial position which is the balance sheet for business.It presents the financial position of an entity at a given date It is one of the main financial statements. The statement of financial position reports an entity's assets, liabilities, and the difference in their totals as of the final moment of an accounting period.

Test: Financial Statements Of Non Profit Organization - 2 - Question 3

The statement of _______ may be prepared under the direct or indirect method.

Test: Financial Statements Of Non Profit Organization - 2 - Question 4

Classifying expenses into program activities and supporting activities is known as the _______ basis

Test: Financial Statements Of Non Profit Organization - 2 - Question 5

Reporting expenses by categories such as salaries, rent, utilities, etc. is known as the ______ basis.

Test: Financial Statements Of Non Profit Organization - 2 - Question 6

Fund earmarked for investment in fixed assets is known as

Test: Financial Statements Of Non Profit Organization - 2 - Question 7

Which of the following is not an restricted fund

Test: Financial Statements Of Non Profit Organization - 2 - Question 8

The two types of restrictions on contributions that are classified as temporarily restricted are purpose and

Test: Financial Statements Of Non Profit Organization - 2 - Question 9

All expenses of a Non-profit organisation are reported as part of the changes in ___________________ net assets.

Test: Financial Statements Of Non Profit Organization - 2 - Question 10

Normally the principal portion of an endowment will be classified as _________________ net assets.

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