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 money received before it is due. It is shown in the Receipts and Payments Account as it is actual cash received during the accounting period.

- Subscription due: These are amounts expected but not yet received. They do not represent actual cash flow for the period and are therefore not shown in the Receipts and Payments Account.

- Last year subscription received: This refers to subscriptions from previous periods that were received during the current period. It is recorded in the Receipts and Payments Account as it represents incoming cash flow in the current period.

- All of the above: This suggests that none of these subscriptions would appear in the account, which is incorrect as several do represent actual cash transactions during the period.

- Correct Answer: Subscription due