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Home Questions QNB7YMW42X
Target Exam

CUET

Subject

Accountancy

Chapter

Accounts for Non Profit Organsiation

Question:

Match the following-

List 1 List 2
A) Advance to supplier at the end I) Shown on the liabilities side of balance sheet
B) Sports material consumed II) Asset side of the closing balance sheet
C) Amount payable to creditors III) Asset side of opening balance sheet
D) Opening stock of stationery IV) Income and expenditure account

 Choose the correct answer from the options given below.

Options:

A-I, B-IV, C-II, D-III

A-II, B-I, C-III, D-IV

A-I, B-II, C-IV, D-III

A-II, B-IV, C-I, D-III

Correct Answer:

A-II, B-IV, C-I, D-III

Explanation:

The correct answer is option 4- A-II, B-IV, C-I, D-III.

List 1 List 2
A) Advance to supplier at the end II) Asset side of the closing balance sheet
B) Sports material consumed IV) Income and expenditure account
C) Amount payable to creditors I) Shown on the liabilities side of balance sheet
D) Opening stock of stationery III) Asset side of opening balance sheet


* Advance to supplier at the end- Prepaid expenses at the end of the year will be shown on the assets side of the balance sheet of that year means closing balance sheet.

* Sports material consumed- Materials consumed will be shown in income and expenditure account.

* Amount payable to creditors- O/s expenses at the end of the year will be shown on the liabilities side of the balance sheet of that year means closing balance sheet.

* Opening stock of stationery- Opening stock of materials are shown in the previous year balance sheet on the assets side means opening balance sheet.

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