Receipt and payments: 31st December 2016
Cash at bank------460 New equipment------200
Subscriptions-----520 Cleaner's wage-----540
Donations--------- 500 Stationary----------- 140
Sale of stickers---490 Cash at bank--------110
Entrance fee------670
The surplus for the year is.............
1,970
1,890
1,690
1,390
Correct answer is D
No explanation has been provided for this answer.
Receipt and payments: 31st December 2016
Cash at bank------460 New equipment------200
Subscriptions-----520 Cleaner's wage-----540
Donations--------- 500 Stationary----------- 140
Sale of stickers---490 Cash at bank--------110
Entrance fee------670
The total income received for the year is...........
2,180
1,890
2,640
1,690
Correct answer is C
No explanation has been provided for this answer.
An event that will not require a change in the profit-sharing ratio of partners in a firm is when
A partner dies
A partner retires
A new partner is admitted
Partners assets value appreciates
Correct answer is D
No explanation has been provided for this answer.
The parties who are paid last in the event of winding-up are
Preference shareholders
Debenture holders
Ordinary shareholders
Trade creditors
Correct answer is C
Ordinary Shareholders represent people who have a fraction of ownership in a corporation that issues such shares. They get to vote on the company's major decisions, usually decided at its shareholder meetings. The shareholder may or may not receive a dividend. They are usually the last to get paid in the event that the company is folding up.
The excess of assets over liabilities in a not for profit organization is..........
Surplus
Deficit
Working capital
Accumulated fund
Correct answer is D
Accumulated fund is the excess money received by a non-profit organization. It is gotten by deducting liabilities from assets in a non-profit making organization account.