What is the primary source of income for not for profit organization?

Entrance fee

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Donations

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Subscription

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None of these

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Solution

The correct option is C
Subscription

Subscription is the primary source of income for not for profit organisation.

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Explain the following terms : Entrance fees, Legacy, Specific donations, Subscription.

Q. Entrance donations received during the year ended 31.3.2014 = Rs. 1,00,000.
Entrance donation received pending membership on 1.4.2013 = Rs. 1,00,000
50% of the entrance donation was to be capitalized. There was no pending membership as on 31st March 2014. A sum of Rs. 20,000 received in October 2013 as entrance donation from an applicant was to be refunded as he has not fulfilled the requisite membership qualifications. There fund was made on 03.06.2014. Amount to be credited to Income & Expenditure A / c for Entrance Donation = ?

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What is the primary source of income for not for profit organization?

The correct option is C Subscription Subscription is the primary source of income for not for profit organisation.

The correct option is C
Subscription

Subscription is the primary source of income for not for profit organisation.