NPO Reporting True or False

Yes or No

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Test your nonprofit accounting rules.

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poa

Pakistan

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NPO Reporting True or FalseOnline version Test your nonprofit accounting rules. by poa 1 All cash receipts are recorded in the Income and Expenditure account. Yes No 2 Subscriptions received in advance are reported as a Current Liability in the Statement of Financial Position. Yes No 3 The primary objective of an NPO is to provide a service rather than generate profit. Yes No 4 Depreciation of NPO equipment is a non-cash item shown in the Income and Expenditure account. Yes No 5 Depreciation is recorded in the Receipts and Payments account. Yes No 6 A surplus in an NPO is equivalent to a Net Profit in a trading business. Yes No 7 Subscriptions received in advance are recorded as Revenue in the Income and Expenditure account. Yes No 8 The Accumulated Fund represents the difference between total assets and total liabilities. Yes No 9 The Accumulated Fund equals total liabilities. Yes No 10 The Statement of Financial Position excludes any current liabilities. Yes No

NPO Reporting True or FalseOnline version

Test your nonprofit accounting rules.

by poa

All cash receipts are recorded in the Income and Expenditure account.

Yes

Subscriptions received in advance are reported as a Current Liability in the Statement of Financial Position.

Yes

The primary objective of an NPO is to provide a service rather than generate profit.

Yes

Depreciation of NPO equipment is a non-cash item shown in the Income and Expenditure account.

Yes

Depreciation is recorded in the Receipts and Payments account.

Yes

A surplus in an NPO is equivalent to a Net Profit in a trading business.

Yes

Subscriptions received in advance are recorded as Revenue in the Income and Expenditure account.

Yes

The Accumulated Fund represents the difference between total assets and total liabilities.

Yes

The Accumulated Fund equals total liabilities.

Yes

The Statement of Financial Position excludes any current liabilities.

Yes

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NPO Reporting True or False

Yes or No

About this activity

Created by

Download the paper version to play

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NPO Reporting True or FalseOnline version

by poa

All cash receipts are recorded in the Income and Expenditure account.

Subscriptions received in advance are reported as a Current Liability in the Statement of Financial Position.

The primary objective of an NPO is to provide a service rather than generate profit.

Depreciation of NPO equipment is a non-cash item shown in the Income and Expenditure account.

Depreciation is recorded in the Receipts and Payments account.

A surplus in an NPO is equivalent to a Net Profit in a trading business.

Subscriptions received in advance are recorded as Revenue in the Income and Expenditure account.

The Accumulated Fund represents the difference between total assets and total liabilities.

The Accumulated Fund equals total liabilities.

The Statement of Financial Position excludes any current liabilities.

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