Identify the steps in preparation of final accounts of not for profit organisation (NPO)

A. Prepare Balance Sheet of NPO

B. Prepare Income and Expenditure Account from Receipts and payment Account

C. Prepare Receipts and payment Account

D. Adjust outstanding/prepaid expenditure/Income and determine surplus/ Deficit

E. Prepare cash book

Choose the correct answer from the options given below:

Outstanding Salaries for the current year is shown

A. In the Opening Balance Sheet, as an asset

B. In the Closing Balance Sheet, as an asset

C. In the Income and Expenditure A/c by adding to the expense 'salary'

D. In the Closing Balance Sheet, as a liability

Choose the correct answer form the options given below:

The main source of revenue for 'not for profit' organisation is:

Identify the treatment of Government Grant received from the government from following:

Libraries run by charitable trusts are an example of:

It is the amount-paid to the person who is not the regular employee of the institution.

Extract of Receipt and Payment Account for the year ended on March 31, 2021 is given.

Calculate the amount of Stationery to be shown in Income and Expenditure A/c.

Payments for Stationery: Rs. 23,000

Additional Information: