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Receipts and Payments Account

The main sour...

Question

The main source of income of NPO is from _____

A

Profit earned from purchase and sale of goods

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B

Profit earned from purchase and sale of services

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C

Admissions fees, subscriptions, donations, grant-in-aid, etc

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D

All of these

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Solution

The correct option is C
Admissions fees, subscriptions, donations, grant-in-aid, etc

Subscriptions are the main source of income for an NPO

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