Multiple Choice Questions on Life membership fees of non trading concerns is mdash ........ for UPSC EPFO Exam Preparation

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Multiple Choice Questions

Life membership fees of non trading concerns is mdash ........

General Accounting Principles Not for profit organisation
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    Life membership fees of non-trading concerns is— 

    Capital Receipts 

    Correct Answer

    Revenue Receipts 

    Incorrect Answer

    Both 

    Incorrect Answer

    None of these

    Incorrect Answer
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    Explanation:

    Capital Receipts are those which creates liability for the organisation, life time membership is one such receipt.

    By: Subhash Singh
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