Lifetime membership fees is shown in which side of balance sheet?

Equity

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

Accumulated fund

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

Cash fund

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

Financial reserve

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

Open in App

Solution

The correct option is B
Accumulated fund

Lifetime membership fees is shown on liabilities side of balance sheet.

Suggest Corrections

Similar questions

Q. In case of insolvency of a partner, any balance in reserve fund or profit and loss accounts is distributed to all the partners ______________.

Name the financial instrument which may be used in the following situation.

It is used by one bank having surplus funds to meet the funds requirements of another bank facing shortage of funds.

Q. Very often we read in newspapers/magazines about 'Sovereign Wealth Funds'. Which of the following is/are the correct description of the same?
A. These are the funds or the reserves of a government or central bank of a country which are invested further to earn profitable returns.
B. These are the funds which were accumulated by some people over the years but were not put in active circulation as they retain them as black money for several years.
C. The funds which are created to be used as relief funds or bailout packages.

Life membership fees received by club is shown in—

Under which major head and sub-heads does the following items be placed in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013.

(i) Cash credit.

(ii) 10 years loan obtained from Financial Institutions.

(iii) Debenture Sinking Fund.

(iv) Matured Debentures.

Join BYJU'S Learning Program

Lifetime membership fees is shown in which side of balance sheet?

The correct option is B Accumulated fund Lifetime membership fees is shown on liabilities side of balance sheet.

The correct option is B
Accumulated fund

Lifetime membership fees is shown on liabilities side of balance sheet.