Multiple Choice
A debit balance on an income and expenditure account prepared for a club is dealt with by:
A) Including the balance in the statement of financial position as a prepayment
B) Deducting the amount from the accumulated fund
C) Adding the amount to the accumulated fund
D) Adding the amount to the bank balance in the statement of financial position
Correct Answer:
Verified
Correct Answer:
Verified
Q1: A club's membership fees account shows a
Q2: A receipts and payments account is:<br>A) A
Q4: Calculate the subscription income for the North
Q5: A receipts and payments account is similar
Q6: The accumulated fund represents:<br>A) The shareholders funds
Q7: An income and expenditure account is:<br>A) A
Q8: Calculate the subscription income for the South
Q9: How is the gift of a computer
Q10: I & E a/c 200 x 50
Q11: Which of the following is correct?<br>A) Subscriptions