Question : Identify Revenue receipt from the following:
Option 1: Donation for Building Fund
Option 2: Subsciption
Option 3: Donation for tournament fund
Option 4: Life memebership fees
Correct Answer: Subsciption
Solution : Revenue receipts are those that come from the normal operations of the firm and are of a recurring character. Recurring revenue receipts have an impact on the company's profits. Sales, rendered services, commissions, subscription, rent, etc. are a few instances of revenue receipts. Hence, the correct option is 2.
Question : Which one of the following is not a revenue receipt?
Option 1: Rent received
Option 2: Entrance fees
Option 3: Interest received
Option 4: Endowment fund receipt
Question : Endowment fund received by NPO is:
Option 1: Capital Expenditure
Option 2: Revenue Expenditure
Option 3: Revenue Receipt
Option 4: Capital Receipt
Question : Which one of the following is not a Capital receipt?
Option 1: Donation for specific purposes
Option 2: Endowment fund receipts
Option 3: Subscription
Option 4: Legacies
Question : Out of the following which is Unrestricted Fund?
Option 1: Annuity Fund
Option 2: Sports Fund
Option 3: Endownment fund
Option 4: Capital fund
Question : Out of the following, which one is a capital receipt?
Option 1: Subscriptions
Option 2: Life membership fees
Option 3: Contribution for Annual Dinner
Option 4: General Donation
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