NPO, Bank Rec & Control Accounts

A non trading organization is mainly concerned with

• exporting goods for resale

• making profit for the business

• providing services for its members

• selling to people

Subscriptions in arrears should be classified in the Balance Sheet as a

• current liability

• current asset

• fixed asset

• capital

The purchase of cricket bats for a cricket club would be classified as

• an expense

• an asset

• a liability

• a revenue

The Receipts and Payments account of a NPO is the same as the

• Balance Sheet

• Cash account

• Trial Balance

• Profit and Loss account

Which would be considered a capital expenditure for a club?

• Bar takings

• Purchase of refreshments

• Purchase of equipment

• Wages

Subscriptions in advance can be classified as

• fixed asset

• current asset

• current liability

• long term liability

Which statement shows the adjustment between the Cashbook balance and the Bank Statement Balance?

• Income Statement

• Capital Statement

• Bank Reconciliation Statement

• Receipts and Payments Statement

How should standing order be corrected in the cashbook?

• Dr. cashbook

• Cr. cashbook

• Dr. bank statement

• Cr. bank statement

How should Bank Interest be corrected in the cashbook?

• Dr. bank statement

• Cr. bank statement

• Dr. cashbook

• Cr. cashbook

Which item will be in the Cashbook and not on the Bank Statement?

• direct transfer

• standing order

• deposit in transit

• bank charges