Question

Identify the INCORRECT statement.

A Non-profit organisations distribute the surplus generated in the form of excess of income over expenditure, amongst the members.

B Non-profit organisations are not required to make a Trading and Profit & Loss Account.

C Non-profit organisations maintain capital fund instead of any capital account.

D Non-profit organisations have to prepare the financial statements at the end of each accounting period and submit them to the Registrar of Societies.

Practice Next

More Welfare Economics Questions

In these questions, relationship between different elements is shown in the statements. The statements are followed by conclusions.

Statements...
Statements: J > K = N ≥ O = P ≥ Q, M < L ≤ Q

Conclusions:

I. O ≥ M

II. L ≤ N

III. K > M
Statements: S = R, T ≤ U, O < J, T ≤ J, U > R

Conclusion:

I. R ≥ T

II. R < T
Statements: A > I = L ≥ Y = T ≥ W, D < V ≤ W

Conclusions:

I. Y ≥ D

II. V ≤ L

III. I > D
...
16. Statements:

J ≥ F = P; F > S ≥ A; S ≥ B < C

Conclusions:

I. C > A

II. B < J
Statements: T < I = Q < U ≤ V; U > F; J = U ≤ E

Conclusions:

I. E > Q

II. V ≥ T

III. T < V

IV. F = ...
In which of these expression ‘O ≤ F’ is definitely true?
In these questions, relationship between different elements is shown in the statements. The statements are followed by conclusions.

Statements...

Question

Identify the INCORRECT statement.

Solution

Download the app