Life membership fees for a non-profit organisation is a .

revenue receipt

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capital receipt

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revenue expenditure

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capital expenditure

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Solution

The correct option is B capital receipt
Life membership fees for a non-profit organisation is a capital receipt.

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Similar questions

Life membership fees of non-trading concerns is _____

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

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