Very urgent please

In a not-for-profit organisation, the accumulated fund is

Along-term liabilities plus current liabilities plus current assets

Bfixed assets less current liabilities less long-term liabilities

Cthe balance on the general reserve account

Dfixed assets plus net current assets less long-term liabilities

(2 marks)

9.2An income and expenditure account is

Aa summary of the cash and bank transactions for a period

Banother name for a receipts and payments account

Csimilar to a profit and loss account in reflecting revenue earned and expenses Dincurred during a period

(2 marks)

9.3 A club received subscriptions during 2005 totalling 25,000. Of these, 1,600 related to 2004 and 800 related to 2006. There were subscriptions in arrears at the end of 2005 of 500. The subscriptions to be included in the income and expenditure account for 2005 amount to

(2 marks)

9.4Life membership fees payable to a club are usually dealt with by

Acrediting the total received to a life membership fees account and transferring a proportion each year to the income and expenditure account

Bcrediting the total received to the income and expenditure account in the year in which these fees are received

Cdebiting the total received to a life membership fees account and transferring a proportion each year to the income and expenditure account

Ddebiting the total received to the income and expenditure account in the year in which these fees are received

(2 marks)

9.5A receipts and payments account is similar to

Aan income and expenditure account

Ba profit and loss account

Ca trading account

Da cash book summary

(2 marks)

9.6 The subscriptions receivable account of a club commenced the year with subscriptions in arrears of 250 and subscriptions in advance of 375. During the year, 62,250 was received in subscriptions, including all of the arrears and 600 for next year's subscriptions. The amount to be taken to the income and expenditure account for the year is

(2 marks)

9.7 The difference between a profit and loss account (which may also be referred to as an income statement) and an income and expenditure account is that

Aan income and expenditure account is an international term for a profit and loss account

Ba profit and loss account is prepared for a business and an income and expenditure account is prepared for a non-profit-making organisation

Ca profit and loss account is prepared on an accruals basis and an income and expenditure account is prepared on a cash-flow basis

Da profit and loss account is prepared for a manufacturing business and an income and expenditure account is prepared for a non-manufacturing business

(2 marks)