In accounting for non profit organisation, the sale of old newspapers is generally considered as a/an

Expenses

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Expenditure

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Income

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Capital receipt

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Solution

The correct option is C
Income

In accounting for non profit organisation, the sale of old newspapers is generally considered as an income.

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Similar questions

How will you treat sale of old newspapers while preparing the final accounts of a non-profit organisation?

Which of the following is generally considered as a non profit organisation?

Show the accounting treatment of the following items by a Not-for-Profit organisation.

(i) Annual Subscription

(ii) Specific Donation

(iii) Sale of Fixed Assets

(iv) Sale of Old Periodicals

(v) Sale of Sports Materials

(vi) Life Membership Fee

An advance receipt of subscription from a member of the non-profit organisation is considered as a/an

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