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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is a non-trading organisation?
💡 Hint: Think of the purpose of charities.
Question 2
Easy
Name one source of funds for non-trading organisations.
💡 Hint: Consider what people might contribute to support these organisations.
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 defines a non-trading organisation?
- A) Focuses on profit
- B) Serves public interest
- C) Operates like a business
💡 Hint: Remember the primary goal.
Question 2
True or False: Non-trading organisations distribute profits to shareholders.
- True
- False
💡 Hint: Think about the structure of these organisations.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A non-trading organisation received ₹10,000 as donations but spent ₹6,000 on operational costs last year. They also have ₹2,000 in subscriptions received in advance. Calculate their surplus and provide a brief justification.
💡 Hint: Think about how advance subscriptions impact the calculations.
Question 2
Discuss the impact of failing to report accrued income in the Income and Expenditure Account for a non-trading organisation. What are potential consequences?
💡 Hint: Consider how it could affect funding from donors.
Challenge and get performance evaluation