Subscription received by a school for organising annual function is treated as:
A. Capital Receipt (i.e., Liability)
B. Revenue Receipt (i.e., Income)
C. Asset
D. Earned Income
Answer:A
Subscription received by a school for organising annual function is treated as:
A. Capital Receipt (i.e., Liability) B. Revenue Receipt (i.e., Income) C. Asset D. Earned Income