Answer-Identify the INCORRECT statement.

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

The average working hours per month of the staff aged over 50 years in a factory were 160 and that of the staff aged under 50 years were 210. The mean work...
Question 2
If A and B are mutually exclusive, the general addition rule is:
The fair dice is rolled 15 times and face value are noted Face Value: 1 2 3 4 5 6 ...
Which of the following satisfies the time and factor reversal test?
The following observations 14, 19, 17, 20, 25 constitute a random sample from an unknown population with mean u and standard deviation σ. The point estima...
Question 7
Question 8
For two items, tea (1 kg) and sugar (1 kg), the prices in the year 2019 were ₹100 and ₹50, respectively, whereas the prices in the year 2020 were ₹125 and ...
For the following frequency distribution Class : 3-5 5-7 7-9 9-11 Frequency: 1 4 ...

Hey! Ask a query

Identify the INCORRECT statement.

Solution

More Welfare Economics Questions

Hey! Ask a query

Please Register/Login