TODAY:Daily Quiz LIVE (Earn +50 XP)
All Mock TestsPYQsLeaderboardDaily QuizRewardsStart Free

Classes

Class 10Class 12

School Exams

All boards
GetMyMockTest
Login

Class 12 Accountancy: Accounting for Not-for-Profit Organisations — Chapter Test 1

Class 12 • Accountancy • Accounting for Not-for-Profit Organisations • Chapter Test

MediumFREE

15

Questions

20 min

Duration

15

Marks (1 each)

No

Negative marking

Original practice questions with full solutions by ExamPortal.

Instructions

  • • Read each question carefully and pick the correct answer.
  • • You can mark questions for review and come back to them.
  • • Answers are saved automatically.
  • • The test is submitted automatically when time runs out.

Access

This test is completely free.

Finish it to earn +5 points.

Take as Guest (Instant Start)Login to Track Rank
SYLLABUS & QUESTION BLUEPRINT

Sample Practice Questions

Preview 5 sample questions from this 15-question test. Test your knowledge below or take the full exam in timed CBT mode.

Start Guest Test
Question 1 of 15
The main objective of a not-for-profit organisation is to:
A
earn maximum profit
B
provide service to its members or society
C
pay dividends
D
sell shares
View Correct Answer & Step-by-Step Solution
Correct Option:(B)provide service to its members or society

Detailed explanation is available inside the official test attempt review.

Question 2 of 15
The Receipts and Payments Account is a:
A
nominal account
B
real account (summary of cash and bank)
C
personal account
D
capital account
View Correct Answer & Step-by-Step Solution
Correct Option:(B)real account (summary of cash and bank)

Detailed explanation is available inside the official test attempt review.

Question 3 of 15
The Income and Expenditure Account is prepared on the:
A
cash basis
B
accrual basis
C
hybrid basis
D
no basis
View Correct Answer & Step-by-Step Solution
Correct Option:(B)accrual basis

Detailed explanation is available inside the official test attempt review.

Question 4 of 15
Excess of income over expenditure is called:
A
profit
B
surplus
C
deficit
D
capital
View Correct Answer & Step-by-Step Solution
Correct Option:(B)surplus

Detailed explanation is available inside the official test attempt review.

Question 5 of 15
Life membership fees are generally treated as a:
A
revenue receipt
B
capital receipt
C
expense
D
liability to pay
View Correct Answer & Step-by-Step Solution
Correct Option:(B)capital receipt

Detailed explanation is available inside the official test attempt review.

Want to practice all 15 questions under exam conditions?

Experience real CBT interface, live countdown timer, question palette, and get your instant All-India rank & percentile.

Take as Guest (Instant Start)Login to Track Rank

Try next

Class 12 • AccountancyFREE

Class 12 Accountancy: Accounting for Partnership: Basic Concepts — Chapter Test 1

Chapter Test • Accounting for Partnership: Basic Concepts

Medium15 Qs20 minStart
Class 12 • AccountancyFREE

Class 12 Accountancy: Admission of a Partner — Chapter Test 1

Chapter Test • Admission of a Partner

Medium15 Qs20 minStart
Class 12 • AccountancyFREE

Class 12 Accountancy: Retirement and Death of a Partner — Chapter Test 1

Chapter Test • Retirement and Death of a Partner

Medium15 Qs20 minStart

Frequently asked questions

How many questions are there in Class 12 Accountancy: Accounting for Not-for-Profit Organisations — Chapter Test 1?

There are 15 questions to answer in 20 min. Each correct answer gives 1 mark, for a total of 15 marks.

Is there negative marking?

No. Wrong answers do not lose marks, so attempt every question.

Is this mock test free?

Yes, it is completely free. Just log in with your email to start.

What does this test cover?

It covers the chapter "Accounting for Not-for-Profit Organisations" of Class 12 Accountancy. All questions are original, with a full solution for each.

Will I see my result and the solutions?

Yes. Right after you submit you get your score, accuracy, rank and percentile, and you can review every question with the correct answer and a step-by-step explanation.

Can I take this test again?

Yes, you can retake it as many times as you like and compare your scores.