Entrance Fee/Admission Fee may be treated as ____________.

Revenue receipt

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Capital receipt

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Both (A) and (B)

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

None of the above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C Both (A) and (B)
It is the amount which a member pays at the time of admission. Thus, it is a one-time fee and also non-recurring in nature. As per the rules of the organization, it is either capitalized or treated as revenue.

Suggest Corrections

Similar questions

Entrance fees received by a club is treated as a _____

Q. A non-profit organization received 210,000 as the entrance fee of a new member. If 50% of the fees has to be capitalized, what is the amount of fees needs to be shown in the income and expenditure account ?

A non-profit organization received Rs. 10,000 as the entrance fee of a new member. If 20% of the fee has to be capitalized, what is the amount of fee needs to be shown in the income and expenditure account?

During an year, a club received Rs 1,00,000 as entrance fees. According to the policy of the club, 40% of the entrance fees is to be capitalized. What amount shall be entered in Income & Expenditure account.

Q. Entrance fees may also be called as _____________.

Join BYJU'S Learning Program

Entrance Fee/Admission Fee may be treated as ____________.

The correct option is C Both (A) and (B)It is the amount which a member pays at the time of admission. Thus, it is a one-time fee and also non-recurring in nature. As per the rules of the organization, it is either capitalized or treated as revenue.

The correct option is C Both (A) and (B)
It is the amount which a member pays at the time of admission. Thus, it is a one-time fee and also non-recurring in nature. As per the rules of the organization, it is either capitalized or treated as revenue.