Life Membership Fees are a one-time payment that gives lifelong membership to the payer. Being a non-recurring capital receipt, it is not treated as income in the Income and Expenditure A/c. Instead, it is added to the Capital Fund on the liabilities side of the Balance Sheet.
Life Membership fees of Rs.25,000 is
CUET UG 2022 — Accountancy Financial Statements
2022mcqmedium
Life Membership fees of Rs.25,000 is
Official previous-year question
Held on 16 Jul 2022 · Verified 13 Jul 2026.
Options
- A
recorded on income side of Income and Expenditure A/c
- B
Shown on assets side of Balance sheet
- C
Shown on expenditure side of Income and Expenditure account
- D
added to capital fund
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