In case of not for profit making concern, endowment fund receipt is treated as

Related MCQs

• Endowment fund receipt is treated as
• Which of the following item is shown in the Receipt and Payment account?
• There are 100 members each p aying an annual subscription of 500. The Receipt and Payment account shows arrear subscription of 4,500, advance subscriptions 6,000 and current 44,500. How much amount to be credited in the Income and Expenditure account?
• On receipt of goods from the consignor the consignee debits which of these accounts?
• Reduction in value of asset due to its continuous use is treated as
• Which balance is not considered for closing entries on t he basis of trial balance for transferring to Trading and Profit & Loss Account?
• Any income arising from special fund will be credited to
• Any revenue expense for which a separate fund is available will be
• When opening stock 50,000; closing stock 40,000; purchases 1,90,000 profit margin is 16.67% on sales, the sales are:
• In a joint venture X and Y sharing p rofit and loss equally, X purchased goods costing of 40,000 and Y sold the goods for 50,000. X is entitled to get 1% commission on purchase and Y is entitled to get 5% commission on sales, the profit will be