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MCQs of Not for profit organisation

objective questions of accountancy

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NPA
In most cases, debt is classified as nonperforming when loan payments have not been made for a period of 90 days.
Banks are required to classify nonperforming assets into one of three categories according to how long the asset has been nonperforming:
1. sub-standard assets
2. doubtful assets
3. loss assets.

A substandard asset is an asset classified as an NPA for less than 12 months.
A doubtful asset is an asset that has been nonperforming for more than 12 months.
Loss assets are loans with losses identified by the bank, auditor, or inspector that need to be fully written off. They typically have an extended period of non-payment, and it can be reasonably assumed that it will not be repaid

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Admission of partnership


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Admission of partnership | change in profit sharing ratio |
Accountancy XIIth
NCERT Solution