Financial State...

Rent expense of a non-profit organization paid in advance. Which of the following is the correct classification of rent?

An advance receipt of subscription from a member of the non-profit organization is considered as a/an

Income and expenditure account is based on 

Life Membership is a capital receipt and will be added to capital fund in _______

Which of the following is to be recorded in an income and expenditure account?

Honorarium is a kind of remuneration paid to a person who is not the employee of a non-profit organization. Which of the following statements is true about the honorarium payment?

The capital of a non-profit organization is generally known as

When cash is received for life membership, which one of the following double entries is passed? 

XYZ club has a bar that maintains a separate trading account for its trading activities. Which of the following is the treatment of profit or loss on bar trading activities?

Which of the following statement is false regarding receipt and payment account