Subscription received in advance by a club are shown in
A) Credit side of Income and Expenditure A/c
B) Asset side of Balance Sheet
C) Liabilities side of Balance Sheet
D) Debit side of Income and Expenditure A/c
Correct Answer:
Verified
Q53: Subscription received in advance is
A)An income
B)An asset
C)Liability
D)None
Q54: Income and expenditure account reveals
A)Cash in hand
B)Surplus
Q55: Not - for - profit organisations institutions
Q56: Non-trading organization prepares
A)Income and Expenditure A/c
B)Trading and
Q57: Receipts and Payment A/c is a summary
Q59: Donations received for a special purpose are
A)Asset
B)Revenue
Q60: Receipts and Payment A/c is a
A)Nominal A/c
B)Real
Q61: Income and Expenditure A/c is a
A)Nominal A/c
B)Real
Q62: Income and Expenditure A/c reveals
A)Cash in hand
B)Surplus
Q63: Small amount of entrance fee is considered
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