Question : The amount received from the sale of old newspapers by a club is treated as:
Option 1: Revenue Receipt
Option 2: Capital Receipt
Option 3: Asset
Option 4: Liability

Question

Question : The amount received from the sale of old newspapers by a club is treated as:

Option 1: Revenue Receipt

Option 2: Capital Receipt

Option 3: Asset

Option 4: Liability

Team Careers360 · Accepted Answer

Correct Answer: Revenue Receipt

Solution : The answer is Revenue Receipt.

The amount received from the sale of old newspaper by a club is considered a revenue receipt. Revenue receipts are those that arise from the regular operating activities of an organization and are recorded as income in the accounting records.
Hence, the correct option is 1.

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Question : The amount received from the sale of old newspapers by a club is treated as:Option 1: Revenue ReceiptOption 2: Capital ReceiptOption 3: AssetOption 4: Liability

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Question : The amount received from the sale of old newspapers by a club is treated as:
Option 1: Revenue Receipt
Option 2: Capital Receipt
Option 3: Asset
Option 4: Liability

Question : The amount received from the sale of old newspapers by a club is treated as:
Option 1: Revenue Receipt
Option 2: Capital Receipt
Option 3: Asset
Option 4: Liability

Question : Subscription received by a club for cricket match is treated as:
Option 1: Revenue Receipt
Option 2: Asset
Option 3: Earned Income
Option 4: Capital Receipt

Question : Subscription received by a club for cricket match is treated as:
Option 1: Revenue Receipt
Option 2: Asset
Option 3: Earned Income
Option 4: Capital 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 : Life Membership Fee received by NPO is accounted as:
Option 1: Capital Receipt
Option 2: Revenue Receipt
Option 3: Assets
Option 4: Outside liabilities