(a) Explain some of the terms used in the accounts for not-for-profit making organizations

(b) Distinguish between shares and debentures.

(a) List four items each that are found on the
(i) credit side of the sales ledger control account;
(ii) debit side of the purchases ledger control account.

(b) List seven types of errors a trial balance will not reveal.

(a) Outline three distinguished features of public and private companies.

(b) State three rights available to an ordinary shareholder.

(a) What is depreciation of an asset?

(b) List three causes of depreciation.

(c) Explain the following methods of depreciation:

(i) straight line;
(ii) reducing balance;
(iii) revaluation.

(a) Give reasons for including outstanding liabilities in the Balance Sheet

(b) How do you record an income generating activity of a bar in a not-for-profit-making organization: