Write the Word/ Term/ Phrase which can substitute of the following statement:

1) The Form of Organization providing services to society only.
Ans: – Not for profit concern

2) An account which is prepared by Not for Profit concern instead of Profit and Loss Account.
Ans: – Income and Expenditure Account.

3) Donation received for a specific purpose.
Ans: – Specific donation / Capital receipt       

4) The receipts which are not recurring in nature.
Ans: – Capital Receipt

5) An Account which records only revenue items in case of Not for profit concern.
Ans: – Income and Expenditure Account.

6) Accounts which records only cash transactions in case of Not for Profit Concern.
Ans: – Receipts and Payments Account.

7) The income which is earned during the year but not received during the year.
Ans: – Outstanding income.

8) The credit balance of Income and Expenditure Account.
Ans: – Surplus

9) To excess of total assets over total liabilities of a Not for Profit concern.
Ans: – Capital Fund.

10) All such receipts which are non-recurring in nature and not forming a part a regular flow of income.
Ans: – Capital receipts.