Refresh or test your accounting knowledge on Income And Expenditure Accounts :
| QUESTIONS:
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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