Non-Trading Concerns Q&A

Written by True Tamplin, BSc, CEPF®

Reviewed by Subject Matter Experts

Updated on March 12, 2023

1. Define non-trading concern.

2. State any four characteristics of a non-trading concern.

3. What is a receipts and payments account?

4. What is an income and expenditure account?

5. Describe the main points involved in converting a receipts and payments account into an income and expenditure account?

6. What is a capital fund?

7. How do accountants treat new assets?

8. In accounting, what is a legacy?

9. What is the accounting treatment of deficits?

10. What is a special subscription?

Non-Trading Concerns Q&A FAQs

About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.