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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What are two sources of income for non-trading organisations?
💡 Hint: Think about contributions from the community.
Question 2
Easy
What does the Receipts and Payments Account record?
💡 Hint: Remember, it's about cash flow!
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What does a Receipts and Payments Account summarize?
- Only cash receipts
- Only cash payments
- Both cash receipts and payments
💡 Hint: Remember it covers what comes in and goes out!
Question 2
True or False: Income and Expenditure Accounts only include actual cash payments.
- True
- False
💡 Hint: Think about what is recorded beyond cash.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
You are the finance officer of a local charity. Last quarter, the charity received ₹100,000 from donations, ₹30,000 from fundraising, and ₹20,000 from membership fees. What would you record in your Receipts and Payments Account?
💡 Hint: Make sure to include all sources of funds.
Question 2
Evaluate how lack of funds from donations could affect the operational integrity of a non-trading organisation.
💡 Hint: Consider the impact on major expenses.
Challenge and get performance evaluation