NCERT Solutions for Class 12 Accountancy Chapter 1 - Accounting for Not for Profit Organisation

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Class 12 Accountancy NCERT Solutions Chapter 1 - Accounting for Not for Profit Organisation

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Accountancy is a difficult subject. This is why if a student wants to score well in this subject, he or she needs to buckle down and study every single day. Ideally, students should spend time reading and go through the course material.

Once the student has a handle on the concepts of the chapter, then the next step for him or her is to spend time in solving questions. While doing that, students should also download Accounting for Not-for-profit Organisations Class 12 Solutions.

Downloading CBSE Class 12 Accountancy Part 1 Chapter 1 Solutions is very beneficial. Students can learn to write proper answers during the exam with the help of this material. Students can also memorize answers to questions that they find difficult. Class 12th Accountancy Partnership Accounts Chapter 1 Solutions can be downloaded from Vedantu. We also provide live classes and query resolution services to all students.

NCERT Solutions for Class 12 Accountancy Chapter 1 Accounting for Not for Profit Organisation part-1
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FAQ (Frequently Asked Questions)

Question 1. What is the Nature of Receipts and Payment Accounts?

Answer: Receipts and payment accounts contain bank and cash transactions summary.

Question 2. What do you Mean by Income and Expenditure Account?

Answer: Income and expenditure account is considered to be an equivalent of profit and loss account. In this type of account, both surplus and deficits are calculated during the accounting period.

Question 3. Are the Solutions Available for Free?

Answer: Yes, students can download the PDF containing the NCERT Solutions for free.

Question 4. Define ‘Not-for-Profit’ Organizations.

Answer: Not-for-profit organizations can be defined as organizations that are established with the sole aim of providing various services to society without making any profits.