(a) Explain the following terms:
(i) Members’ subscriptions;
(ii) Accumulated fund;
(iii) Bar stock;
(iv) Bar profit.

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

observation

Majority of the candidates attempted this question and performed well in the (a ii, iii, iv) and (b) part. The area of difficulty was the (a i). The expected answer included:

a (i) Members subscription: Is the annual/periodic dues of a club or social/body/not-for-
profit making organization. It sustains membership to the club or social body.