Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounts for Non Profit Organsiation

Question:

Opening Stock (+) Purchase (-) Closing Stock formula applies to the following while calculating consumption:
A. Machinery
B. Stationery
C. Furniture
D. Sports Equipment
E. Medicine
Choose the correct answer from the options given below:

Options:

B. D, C only

B, C, E only

B, D, E only

A & B only

Correct Answer:

B, D, E only

Explanation:

Not For Profit Organisation (NPO) : Consumables are products that used recurrently, i.e., items that “get used up” or discarded. For example, consumable school supplies are stationary such as pens, file folders, and toner or ink cartridges; Medicines in hospitals; Sports materials in Sports clubs etc.