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Test Report

Accounting For Not For Profit Organisation

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Test Report

Accounting For Not For Profit Organisation

Q1. Under Fixed capital account method,accounts maintained are?

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ANS

only capital a/c only current a/c both capital and current a/c none of them

Q2. Under Fluctuating capital account method,accounts maintained are?

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ANS

only capital a/c only current a/c both capital and current a/c none of them

Q3.

Interest on Capital is?

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ANS

Charge

Appropriation

Zero

Inapplicable

Q4. Interest on loan is?

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ANS

charge appropriation both none of them

Q5. Interest on drawings is?

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ANS

charge appropriation both none of them