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Write One Word / Term / Phrase for the Following Statement. - Book Keeping and Accountancy

One Word Answer

Write one Word / Term / Phrase for the following statement.
All such receipts which are non-recurring in nature and not forming a part of regular flow of income of a concern.

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Solution

Capital Receipts

Explanation: Those receipts, the benefits of which accrue to an organisation in the current year, as well as in the years to come, are termed as capital receipts. They are non-recurring in nature. For example, life membership fees, endowment receipts, donations and legacies etc.

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APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 7 Accounts of 'Not For Profit' Concerns
Exercise | Q 9 | Page 227
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