Fertizer

Test-Non-Profit Organisation

MM-10 MT-1HR

1. Name the fund in which principal amount is kept intact till perpetuity and the income from such investment is used. (1)

2. What is the other name of Cash Trial in context of “Not-For-Profit Organizations” and why it is called so? (1)

3. What amount of medicine be posted in the Income and Expenditure Account?

Stock of medicine on 1.1.2009 Rs. 30,000

Creditors for medicine on 1.1.2009 Rs. 20,000

Stock of medicine on 31.12.2009 Rs. 5,000

Amount paid for medicine during the year 2009 Rs. 1,08,000

Advance paid for medicine on 31.12.2009 Rs. 3,000 (3)

4. Following is the Receipts and Payments Account of G.G sports club for the year ended 31st March 2007. Prepare Income and Expenditure Account for the year ended 31st March, 2007 and the Balance Sheet at 31st March, 2007.

Receipts and Payments Account

For the year ending 31st March 2007

DR. CR.

|Receipts |Amount |Payments |Amount |

|To balance b/d | 34,600 |By Salary | 2,700 |

|To Entrance Fee | 8,000 |By Stationery | 400 |

|To Life Membership Fees |14,400 |By Books | 4,000 |

|To Subscriptions |7,800 |By Telephone charges |1,000 |...