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Question
Fund Based Accounting is classified under:
(i) Unrestricted funds
(ii) Fixed assets funds
(iii) Restricted funds
(iv) Annuity funds
Options
(i), (ii), (iii)
(i), (iii), (iv)
(ii), (iii), (iv)
(i), (ii), (iii), (iv)
MCQ
Solution
(i), (ii), (iii), (iv)
Explanation:
In the case of Not-for-Profit Organisations, funds may be classified as:
(i) Unrestricted Fund
(ii) Restricted Fund
(iii) Government Grant
(iv) Endowment Fund
(v) Annuity Fund
(vi) Loan Fund
(vii) Fixed Assets Fund
(viii) Prize Fund
shaalaa.com
Receipts and Payments Account
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