20 Most important 12th Accounts Objective questions MP Board 2021 in Hindi and English.
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20 Most important 12th Accounts Objective questions MP Board 2021 in English.
Que. 1. Balance of Receipt and Payment account is always-
A) Debit Balance. B) Credit balance C) Surplus D) Deficit
Que. 2. Balance of Income and Expenditure Account Shows:
A) Cash in hand B) Capital account C) Net Profit D) Surplus or Deficit
Que. 3. Advance subscription received in current year is called-
A) Income B) Expenses C) Asset D) liability
Que. 4. Not for Profit Organisations Prepare:-
A) Income and Expenditure A/c
B) Profit and loss A/c
C) Trading Account
D) D Manufacturing Account.
Que. 5. What type of transactions are recorded In Income and Expenditure Account?-
A) Revenue Nature B) Capital Nature C) Both Revenue and Capital.
Que. 6. Which of the following is Not a Not for Profit Organisation:
A) College. B) Hospital C) Public Company D) Club
Que. 7. Receipt and Payment account is -
A) Personal Account B) Real Account C) Nominal Account D) None of the above
Que. 8. Payment of Honarium to Secretary is:-
A) Capital Expenditure
B) Revenue Expenditure
C) Cash Expense
D) None of the all.
Que. 9. Outstanding Subscription is:-
A) Income B) Expense C) Asset D) liability
Que. 10. Sale of old Newspaper is:-
A) Capital Receipt B) Revenue Receipt
C) Profit D) Loss
Que. 11. Legacy should be considered as-
A) Liabilities B). Revenue Receipt. C) Capital Receipt D) Asset.
Que. 12. Specific donation is –
A) Liability B) Capital Receipt C). Revenue Receipt. D) Asset
Que. 13. Receipt and Payment account is summary of-
A) Debit and Credit balance of Account.
B) Cash Receipt and Cash Payments
C) Income and Expenditure
D) Assets and Liabilities.
Que. 14. Non profit Organization normally do their transaction in-
A) Cash. B) Credit D). Cash and Credit both D). None of them.
Que. 15. Income and Expenditure Account is-
A) Personal account. B) Real Account C) Nominal Account D) None of them.
Que. 16. Life Membership fees of Non profit Organization is-
A) Capital Receipt B) Revenue Receipt C). Both D) None of them.
Que. 17. Excess of Assets over Liabilities in Non for Profit Organisations is called-
A) Capital Fund. B) Capital. C) Profit D) Non of them.
Que. 18. For Non profit Organization “ Honarium “ is –
A) Income B) Asset C). Expense D) None of them.
Que. 19. In the absence of clear instructions Entry fee is considered as-
A). Capital Receipt B). Revenue Receipt. C). Liability D) None of Them.
Que. 20. Excess of Income over Expenditure is called –
A). Surplus B). Deficit C). Non of them. D). ( A) and (B) Both
* Answer is in bold font.
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