Life membership fees of non-trading concerns is _____

Capital receipts

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Revenue receipts

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Both capital and revenue

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None of these

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Solution

The correct option is A
Capital receipts

Life membership fees is a capital receipt

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Life membership fees of non-trading concerns is _____

The correct option is A Capital receipts Life membership fees is a capital receipt

The correct option is A
Capital receipts

Life membership fees is a capital receipt