All items of revenue in nature are shown in:
A) Income and Expenditure A/c
B) Balance Sheet
C) (a) and (b) both
D) None of these
Correct Answer:
Verified
Q13: Entrance fees, unless otherwise stated, is treated
Q14: Specific donation is:
A)Capital receipt
B)Revenue Receipt
C)Assets
D)Liabilities
Q15: Income and Expenditure Account records transactions of:
A)Capital
Q16: Life membership fee received by a club
Q17: All receipts of capital nature are shown
Q19: Which of the following is not a
Q20: Subscriptions received in advance by a club
Q21: Which of the following is not an
Q22: Subscription received by an organisation is:
A)Capital Receipt
B)Revenue
Q23: Not-for-profit organisations are based on…………………………theory.
A)Fund
B)Surplus
C)Profit
D)Expenses
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