Which of these books is not related to ' Non Trading concerns ' ?
Donation Books
Non Trading Concerns, also known as Non-Profit Organizations (NPOs), are entities established for providing services to their members or society rather than making a profit. Examples include clubs, societies, schools, hospitals, and charitable institutions. Like any organization, they maintain various books and records for administrative and financial purposes.
Let's look at the typical books that Non Trading Concerns might maintain:
Considering the common types of books maintained by Non Trading Concerns, Stock Register, Minutes Books, and Members Register are clearly related to the fundamental operations, governance, and asset management of such organizations. Donation Books are primarily records related to a specific source of income (donations).
While Donation Books are essential for recording a major source of funding for many NPOs, the question asks which book is *not* related. In a specific classification context, one might argue that Stock Register, Minutes Books, and Members Register relate more directly to the core operational and administrative structure of the concern itself (governance, membership, essential assets), whereas Donation Books are a record of external financial inflow from fundraising activities. Therefore, based on this potential distinction, the book considered least related in this context could be the Donation Book, which focuses purely on a specific type of income transaction rather than the internal structure or non-financial assets/governance.
Receipts and payments account includes which of the following?
(i)All receipts and payments related to the current year.
(ii) All receipts and payments related to the previous or future year(s).
(iii) All receipts and payments irrespective of the nature (both revenue and capital).
Generally, non-profit organisations prepare which of the following?
i) Receipt and Payment Account
ii) Income and Expenditure Account
iii) Balance Sheet
Which option shows the correct accounting treatment given in the nonprofit organization accounting?
(i) Small donations - revenue receipts
(ii) Subscriptions - revenue receipts
The record of cash transactions by non-trading concerns is shown in