Accountancy · Class 12 Commerce
Ch 4Not-For-Profit Organization — Class 12 Accountancy, concept-first.
Clubs, charitable trusts, hospitals run on a no-profit basis, schools and colleges managed by trusts, sports associations, and religious or professional societies exist to provide a service to their members or to society rather than to earn a profit for owners.
Key concepts
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Income and Expenditure Account
Income and Expenditure Account
Most relevant Q&A
- Distinguish between the Receipts and Payments Account and the Income and Expenditure Account of a not-for-profit organization. (Any four poi…Free
- From the following Receipts and Payments Account of XYZ Club for the year ended 31.3.2025 and the additional information given, prepare the…Preview
- Amaravathi Town Club provided Receipts and Payments A/c for the year ended 31-March-2013. Prepare Income and Expenditure A/c. | Receipts | A…Preview
- From the following Receipts and payments A/c of Nellore Sports Club for the year ending 31-3-2017 Prepare Income and Expenditure A/c. | Rece…Preview
- What is Revenue Income ?Preview
In previous exams
How often this chapter’s concepts have been examined — real appearance data, never estimated.
Chapter contents
The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.
Meaning and Features of Not-for-Profit Organizations
Clubs, charitable trusts, hospitals run on a no-profit basis, schools and colleges managed by trusts, sports associations, and religious or professional societies exist to provide a service to their m…
Receipts and Payments Account
The Receipts and Payments Account is a classified summary of the cash book of a not-for-profit organization for the accounting year, prepared at the end of the year by grouping and totalling all cash…
Income and Expenditure Account
The Income and Expenditure Account is the equivalent, for a not-for-profit organization, of the Profit and Loss Account of a trading concern.
Capital Fund and the Balance Sheet
A not-for-profit organization prepares a Balance Sheet at the end of the year in exactly the same format as a trading concern, showing assets on one side and liabilities together with the Capital Fund…
Treatment of Subscriptions
Subscription is the periodic amount paid by members to remain members of the organization, and is usually its main source of income.
Treatment of Donations, Legacies, Entrance Fees and Other Special Items
A number of items received by a not-for-profit organization need a considered decision on whether they are a revenue receipt (credited to the Income and Expenditure Account) or a capital receipt (adde…
Treatment of Specific Funds
Where members contribute, or an organization sets aside, money for a stated purpose — a Prize Fund for annual prizes, a Match Fund for a sports team's tournament expenses, a Building Fund for construc…
Sample & Board Papers
Sample papers and previous-year board questions for this subject.
+−Show 8 questionsHide questions8 questions
- Q1Amaravathi Town Club provided Receipts and Payments A/c for the year ended 31-March-2013. Prepare Income and Expenditure A/c. | Receipts | A…Preview
- Q2Write a short note on: Legacy.Preview
- Q3From the following Receipts and payments A/c of Nellore Sports Club for the year ending 31-3-2017 Prepare Income and Expenditure A/c. | Rece…Preview
- Q4What is Revenue Income ?Preview
- Q5Visakha Town Club provided Receipts and Payments account for the year ended on 31-03-2013. Prepare Income and Expenditure account. | Dr. Rec…Preview
- Q6What is 'Legacy' ?Preview
- Q7Prepare income and expenditure a/c of Tirupathi Club from the following receipts and payments a/c, for the year ending 31-Dec-2022. | Receip…Preview
- Q8Write a short note on: Subscription.Preview
More questions
12 Q+−Show 4 questionsHide questions4 questions
- Q1Distinguish between the Receipts and Payments Account and the Income and Expenditure Account of a not-for-profit organization. (Any four poi…Free
- Q2Which of the following is normally treated as a capital receipt in the accounts of a club, in the absence of any specific instruction? (a) S…Free
- Q3State any four distinguishing features of a Not-for-Profit Organization, as prescribed in the AP Intermediate (BIEAP) Second Year Accountanc…Preview
- Q4Which of the following items is NOT shown in the Income and Expenditure Account of a not-for-profit organization? (a) Salaries paid (b) Depr…Preview
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- Q5From the Receipts and Payments Account of a club for the year ended 31st March 2025, subscriptions received during the year amounted to ₹85,…Free
- Q6During the year ended 31.3.2025, a sports club received entrance fees of ₹18,000 from new members. State, with reason, how this amount shoul…Free
- Q7A club received a legacy of ₹50,000 during the year ended 31.3.2025. Show how this item will be treated in the final accounts of the club.Free
- Q8A club received life membership fees of ₹40,000 during the year ended 31.3.2025 from members who will not pay annual subscription hereafter.…Preview
- Q9A sports club maintains a Match Fund. The following particulars are available for the year ended 31.3.2025: Match Fund balance as on 1.4.202…Preview
- Q10The Receipts and Payments Account of a club for the year ended 31.3.2025 shows ₹1,200 received from sale of old newspapers, and ₹3,500 recei…Preview
- Q11From the following Receipts and Payments Account of XYZ Club for the year ended 31.3.2025 and the additional information given, prepare the…Preview
- Q12From the following particulars of a Recreation Club as on 1.4.2024, calculate the Capital Fund as on that date: Building ₹80,000; Furniture…Preview