Professional Courses
Industry-relevant training in Business, Technology, and Design to help professionals and graduates upskill for real-world careers.
Categories
Interactive Games
Fun, engaging games to boost memory, math fluency, typing speed, and English skills—perfect for learners of all ages.
Typing
Memory
Math
English Adventures
Knowledge
Enroll to start learning
You’ve not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.
Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the primary purpose of the Income and Expenditure Account?
💡 Hint: Think about what kind of organizations use this account.
Question 2
Easy
Give one example of income recorded in an Income and Expenditure Account.
💡 Hint: Consider the sources of funds for non-profit organizations.
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 Income and Expenditure Account primarily measure?
- Profit
- Surplus or Deficit
- Revenues only
💡 Hint: Think about the purpose of the account.
Question 2
True or False: The Income and Expenditure Account includes capital receipts.
- True
- False
💡 Hint: Reflect on what constitutes operational income.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A non-profit theatre organization has the following information: total income of $75,000, total expenses of $60,000, and an advance subscription of $5,000 received for the next year. Calculate the surplus or deficit for the current year.
💡 Hint: Remember, only count this year's recognized income.
Question 2
An educational institution reports the following: income from grants ($20,000), total expenditures ($35,000), and has a deferred income from post-enrollment fees of $3,000. What is the institution's surplus or deficit?
💡 Hint: Only current recognized income should factor into your calculations.
Challenge and get performance evaluation