Out of the following items which is not shown in the lsquo Receipts and Payments A c rsquo of a not ...........

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Out of the following items, which is not shown in the ‘Receipts and Payments A/c’ of a not for profit organisation? ‘

Subscription received in advance

Subscription due

Last year subscription received

All of the above

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Explanation:

- Subscription received in advance: This is a receipt of cash before it is due. It is shown in the Receipts and Payments Account as it reflects cash received.

- Subscription due: Represents the amount owed by members but not yet received. It does not appear in the Receipts and Payments Account because no cash transaction has occurred yet.

- Last year subscription received: Cash received from outstanding dues of the previous year. It is included in the Receipts and Payments Account since it represents actual receipt of cash during the current year.

- All of the above: This option suggests none of the listed items are shown in the account, which is incorrect.

Correct Answer: Subscription due