Balbharati solutions for Book-keeping and Accountancy 12th Standard Hsc Maharashtra State Board
Chapter 2 - Accounts of ‘Not for Profit’ Concerns [Latest edition]
Write the Word/ Term/ Phrase which can substitute of the following statement:
The Form of Organization providing services to society only. - Not for profit concern
An account which is prepared by Not for Profit concern instead of Profit and Loss Account. - Income and Expenditure Account.
Donation received for a specific purpose. - Specific donation / Capital receipt
The receipts which are not recurring in nature. - Capital Receipt
An Account which records only revenue items in case of Not for profit concern. - Income and Expenditure Account.
Accounts which records only cash transactions in case of Not for Profit Concern. - Receipts and Payments Account.
The income which is earned during the year but not received during the year. - Outstanding income.
