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

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Question

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

Options

  • Capital Receipt (i.e., Liability)

  • Revenue Receipt (i.e., Income)

  • Asset

  • Earned Income

MCQ
Fill in the Blanks

Solution

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.

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