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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define a non-trading organisation.
💡 Hint: Think about what the main goal of these organisations is.
Question 2
Easy
Name one key financial statement of a non-trading organisation.
💡 Hint: Consider the cash flow and receipts.
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 primary goal of a non-trading organisation?
- To make profits
- To serve the community
- To sell products
💡 Hint: Think about their main purpose.
Question 2
True or False: Non-trading organisations distribute their profits to shareholders.
- True
- False
💡 Hint: What happens to profits in these types of organisations?
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A charity has received a ₹5,000 donation in December for the next year’s program. Explain how this affects their financial statements.
💡 Hint: Consider how to categorize the donation based on the time of the receipt.
Question 2
Discuss how a lack of proper adjustments in accounts could mislead a non-trading organisation's financial status.
💡 Hint: Think about how stakeholders rely on accurate financial reporting for their decisions.
Challenge and get performance evaluation