Analysis of Financial Statements-Financial Statements of a Company [CBSE (Central Board of Secondary Education) Class-12 Accountancy]: Questions 3 - 12 of 32

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Question 3

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Show the major headings on the liabilities side of the Balance Sheet of a company as per Schedule VI Part I of the Companies Act, 1956.

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Question 4

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What is Endonoment fund?

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Question 5

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Write any two limitation of receipts and payment account?

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Question 6

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Distinguish between profit - seeking organisation and not for profit organisation?

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Question 7

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Write any four features of income and expenditure account?

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Question 8

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What is honorarium?

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Question 9

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During the year 2007 a club received ₹ 1,00, 000 as entrance fees. According to accounting policy for the club 40% of the entrance fees is to be capitalised. How will you deal with entrance fees received by NPO?

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Question 10

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Difference between receipt and payment account and trial balance?

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Question 11

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Distinguish between Income and Expenditure Account and Receipt and Payment Account on the basis-of nature of items recorded therein.

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Question 12

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Define restricted fund and unrestricted fund?

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