Practice Adjustments in Non-Trading Organisations - 10.6 | 10. Non-Trading Organisations | ICSE Class 11 Accountancy
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10.6 - Adjustments in Non-Trading Organisations

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is a subscription adjustment?

💡 Hint: Think about upfront payment and future income.

Question 2

Easy

Why do we charge depreciation on fixed assets?

💡 Hint: Consider wear and tear on items.

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 is the significance of subscription adjustments?

  • They increase current income
  • They help accurately report income
  • They reduce expenses

💡 Hint: Consider what happens if we include future income.

Question 2

True or False: Depreciation does not affect income statements.

  • True
  • False

💡 Hint: Think about how asset values change over time.

Solve and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A charity received ₹10,000 in advance for subscriptions for next year. How will this amount appear in the financial statements? If the charity also incurred ₹3,000 in outstanding expenses during the same period, how do you report these?

💡 Hint: Consider the time aspect of income and expenses.

Question 2

If an organisation's fixed assets are worth ₹50,000 and depreciation each year is ₹5,000, what would the value of fixed assets be at the end of three years? Discuss how this affects the reported profits.

💡 Hint: Remember to factor in the cumulative effect of depreciation on assets!

Challenge and get performance evaluation