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Amount received from sale of grass by a ...

Amount received from sale of grass by a club should be treated as:
capital receipt
revenue receipt
asset
earned income

A

Capital Receipt

B

Revenue Receipt

C

Asset

D

Earned Income

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Verified by Experts

The correct Answer is:
B
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DK GOEL-Financial Statements of Not-for-Profit Organisations-Multiple Choice Questions
  1. Source of income for a not-for-profit organisation is :

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  2. Which of the following represent capital receipt :

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  3. Amount received from sale of grass by a club should be treated as: ca...

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  4. The amount received for sale of old sports materials by a Non-profit o...

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  5. If there is a 'Match Fund', then match expenses and incomes are transf...

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  6. Subscription received in advance during the current year is :

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  7. Subscription received in cash during the year amounted to Rs 40,000, s...

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  8. Subsription received in cash during the year amounted to Rs 5,00,000, ...

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  9. Subscription received in cash during the year amounted to Rs 60,000, s...

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  10. Subscription received in cash during the year amounted to Rs 3,00,000,...

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  11. What amount will be credited to the lncome and Expenditure Account for...

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  12. There are 200 members, each paying an annual subscription of Rs 1,000,...

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  13. The opening balance of Prize Fund was Rs 32,800. During the year, dona...

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  14. Salary paid in cash during the current year was Rs 80,000, Outstanding...

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  15. Salary paid in cash during the current year was Rs 30,000, Outstanding...

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  16. Salary paid for the year ended 31st March, 2010 amounted to Rs 75,000....

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  17. How much amount will be shown in Income and Expenditure Account in the...

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  18. How much amount will be shown in Income and Expenditure Account in the...

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  19. If a General Donation of huge amount is received by a school, that don...

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  20. If a general donation of smaller amount is received by a school, that ...

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