Clubs & Societies
Authored by rizah ss1
Business
10th Grade
Used 2+ times
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7 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the main purpose of clubs & societies?
Not trading or profit making
For Trading or profit making
Trading or not profit making
Not trading or not profit making
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the equation for profit making firm?
Assets = Capital + Liabilities
Assets = Accumulated Funds + Liabilities
Assets = Accumulated Funds + Liabilities
Assets = Capital + Accumulated Funds
3.
MULTIPLE SELECT QUESTION
20 sec • 1 pt
Who would have a capital account?
Corporation
Partnership
Cooperative
Sole Trader
4.
MULTIPLE SELECT QUESTION
20 sec • 1 pt
What kind of final accounts are prepared by these organisations?
Income or Payments account
Receipts & Payments account
Receipts & Expenditure account
Income or Expenditure account
5.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
It is in effect the same as the ??????? account:
6.
OPEN ENDED QUESTION
1 min • 1 pt
What is Clubs and Societies?
Evaluate responses using AI:
OFF
Answer explanation
Clubs and society is a non-trading organisation which is formed to provide facilities and services for; members.
7.
OPEN ENDED QUESTION
1 min • 1 pt
What is Accumulated Fund?
Evaluate responses using AI:
OFF
Answer explanation
An Accumulated Fund holds excess money received by a non-profit organisation (NPO).
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