(a)[2]
State two reasons why members of a not-for-profit organisation do not get a dividend.
(b)[11]
Prepare the income and expenditure account for the year ending 31 August 2016.
(c)[8]
Prepare the statement of financial position as at 31 August 2016.
(d)[4]
Explain why the club allocates the life membership fund to the income and expenditure accounts over 10 years.