WAEC Accounting 2022 Theory — Question 8

Question 8 of 17 from the West African Examinations Council (WAEC) Accounting 2022 Theory paper, with the correct answer and a full explanation.

3(b) List five sources of income for a not-for-profit-making organization.

Model answer

- Subscription payments by members - Fines and penalties imposed on members - Receipts from activities/events - Sale of assets of the organization - Donations from members/well-wishers

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Accounting 2022 Theory More Accounting past papers