STUDENT LOGIN

If you don't have an account, click here

Student Sign Up

REGISTER

Test Report

Accounting For Not For Profit Organisation

Dear ,

You have successfully completed your assessment!

Total Score: 100.00%

7 Correct Answers

0 Wrong Answers

0Unattempted

Score Analysis

  • Wrong: 0%
  • Correct: 100%
  • Unattempted: 0%

Time Spend: 66 Sec

7 66 Sec

0 0 Sec

00 Sec

Time Analysis

  • Wrong: 0%
  • Correct: 100%
  • Unattempted: 0%

Pass

1
LEVEL

2
LEVEL

3
LEVEL

Test Report

Accounting For Not For Profit Organisation

Q1.

Partners' Current Accounts are opened when their Capital Accounts are

[00:00:10]

ANS

Fixed

Fixed and Fluctuating both

Fluctuating

Not required

Q2. The interest on Capital A/C of partners under the Fluctuating Capital Account Method is credited to

[00:00:15]

ANS

Interest A/C

Profit and Loss A/c

Partners' Capital A/c

none of them

Q3. The Current Account of a Partner

[00:00:09]

ANS

will always have a credit balance will always have a debit balance may have a debit balance or a credit balance can never have a debit balance

Q4. Interest Payable on the Capitals of the partners is charged to

[00:00:08]

ANS

Profit and Loss a/c Profit and Loss Adjustment A/c Realization A/c Profit and Loss Appropriation A/c

Q5. The interest on partners' drawings is debited to

[00:00:08]

ANS

Partners' Capital A/c

Profit and Loss Account

Drawings A /c

none of them

Q6. In the absence of an agreement, a partner shall

[00:00:13]

ANS

be paid Rs. 10000 each be paid in the Capital Ratio not be paid none of them

Q7. Minimum persons required to start partnership firm is/are?

[00:00:03]

ANS

1 2 5 7