Accounting Quiz or Test Your Accounting Knowledge On Income And Expenditure Accounts

November 11th, 2010 Comments off
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Refresh or test your accounting knowledge on Income And Expenditure Accounts :


1.0    List three differences between the accounts of a non-trading organization and those of a business

2.0    List five sources of income for a non-trading organization

3.0    What is a receipts and payments account?

4.0    Describe two ways of accounting for income from life membership fees

5.0    The profit or loss on the sale of a fixed asset which has been subject to depreciation

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