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