Practice Balance Sheet Of Non-trading Organisations (10.5)

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10 questions

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6 sample questions

Question 1.
What does a Balance Sheet summarize?
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Think about what a business needs to report financially.
Question 2.
Name one example of a fixed asset.
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Consider what long-term investments an organisation might have.
3Question 3.
What does the Balance Sheet primarily show?
- A. Cash flow
- B. Assets and liabilities
- C. Income and expenses
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Look for what accounts are involved.
4Question 4.
True or False: The Capital Fund includes restricted grants.
- True
- False
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Think about where restricted funds are recorded.
Question 5.
Create a simplified Balance Sheet for a fictional non-trading organisation that includes a capital fund, two fixed assets, and current assets.
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Think about what resources your organisation has.
Question 6.
Discuss the impact of withholding grants on the financial health as sketched in the Balance Sheet.
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Link this back to how such funds influence financial obligations.

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