Practice Receipts and Payments Account - 10.3.2 | 10. Non-Trading Organisations | ICSE Class 11 Accountancy
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10.3.2 - Receipts and Payments Account

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What does the Receipts and Payments Account primarily record?

💡 Hint: Think about what type of transactions involve cash.

Question 2

Easy

Give one example of a receipt in the account.

💡 Hint: What type of income does a non-trading organization typically receive?

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 the Receipts and Payments Account include?

  • Only cash receipts
  • Cash receipts and payments
  • Only cash payments

💡 Hint: Consider the term 'and' in the question.

Question 2

True or False: The Receipts and Payments Account is prepared on an accrual basis.

  • True
  • False

💡 Hint: Remember how cash basis accounting works.

Solve and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A local NGO saw a total of $10,000 in cash receipts from donations, $2,000 from fundraising activities, and $1,500 from entrance fees. Calculate total receipts and discuss the importance for the organization.

💡 Hint: List each source and add them up.

Question 2

Analyze a scenario where an organization has $8,000 in cash payments for salaries, $1,000 for rent, and $500 for utilities. What implications could this have for their accounting practices if not properly tracked?

💡 Hint: Consider how expenses impact the overall cash flow.

Challenge and get performance evaluation