Maharashtra State BoardHSC Arts 12th Board Exam

Fees Paid by Persons to Become Members of a ‘Not for Profit’ Concern. - Book Keeping and Accountancy

Fees paid by persons to become members of a ‘Not for Profit’ concern.

Solution

Subscription

Explanation:

Subscription is the main source of income for a NPO. It is basically the amount that is paid by the members of a NPO for continuing their membership with the organisation. This payment is made periodically (generally yearly) by the members.

Concept: Receipts and Payments Account

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2010-2011 (March)

Q 1.B.2 Q 1.B.1 Q 1.B.3

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2010-2011 (March) (with solutions)

Q 1.B.2 | 1 mark

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Fees Paid by Persons to Become Members of a ‘Not for Profit’ Concern. - Book Keeping and Accountancy

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