Life membership fee received by a club are shown in ___________.

Balance Sheet

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Profit and loss Account

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Income and Expenditure Account

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Revenue Account

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Solution

The correct option is B Balance Sheet
Life membership fee taken from the club members is a one time fee. Yearly fees is recorded as revenue expense. Life membership need to be shown in balance sheet.

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Life membership fee received by a club are shown in ___________.

The correct option is B Balance SheetLife membership fee taken from the club members is a one time fee. Yearly fees is recorded as revenue expense. Life membership need to be shown in balance sheet.

The correct option is B Balance Sheet
Life membership fee taken from the club members is a one time fee. Yearly fees is recorded as revenue expense. Life membership need to be shown in balance sheet.