Question

Subscription received by a school for organising annual function is treated as ______.

पर्याय

• Capital Receipt (i.e., Liability)

• Revenue Receipt (i.e., Income)

• Asset

• Earned Income

Answer 1

Subscription received by a school for organising annual function is treated as Capital Receipt (i.e., Liability).

Explanation:

A school's subscription for organizing an annual function is treated as a capital receipt.