Select the item that does not appear in the Receipt and Payment account of a Not-for-Profit Organisation.
This question was previously asked in
Shift 31/05/2023 3:30 PM - 6:30 PM
A
Sale of machinery for cash
B
Subscription received
C
Loss on sale of furniture
D
Payment to creditors
Correct Answer
Loss on sale of furniture
Detailed Explanation
The correct answer is:
3. Loss on sale of furniture
The Receipt and Payment account of a Not-for-Profit Organization typically records cash receipts and payments. Therefore, items like a "loss on the sale of furniture" (which involves a cash outflow) would be recorded in the Receipt and Payment account. In contrast, "sale of machinery for cash" would be recorded because it involves a cash inflow.
Get Dubuddy App
Practice on the go with our mobile app
More CUET Questions
1
Which chart element gives details of the data values and also the categories below the chart?
2
Wizards in MS Access means:
3
While preparing chart on excel, arrange the following steps in the correct order.
A. Add or remove titles or data lables
B. Show or hide a legend and chart axis
C. Create a basic chart using the pattern from the panel
D. Enter the data in worksheet with proper column and row titles.
E. Save the chart Choose the correct answer from the options given below:
4
Which of the following activities come under the head of 'financing activities'?
A. Purchase of shares
B. Dividend payable on equity shares
C. Issue of 9% Debentures
D. Redemption of preference shares
E. Interest paid on Debentures Choose the correct answer from the options given below:
Test Series
CUET Subjects
Your CUET Journey Starts with DuBuddy
CUET ki Practice Means DuBuddy Pe Practice