Non-Trading Concerns Q&A

True Tamplin

Written by True Tamplin, BSc, CEPF®
Updated on November 18, 2021

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?

True Tamplin, BSc, CEPF®

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®), 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, view his author profile on Amazon, his interview on CBS, or check out his speaker profile on the CFA Institute website.

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