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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


Team Careers360 11th Jan, 2024
Answer (1)
Team Careers360 12th Jan, 2024

Correct Answer: Life membership fees


Solution : The answer is Life Membership fee.
Life membership fee is accounted as a Capital Receipt and added to Capital fund in the liabilites side of Balance Sheet.
Hence, the correct option is 2.

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