Question

life membership fees is a Which receipt ​

Answer 1

Answer:

Capital Receipt

Explanation:

Life Membership Fees is a capital receipt and we add it to the Capital Fund on the liabilities side of the Balance Sheet. We do not account it as an income because a life member makes onetime payment and avails services all through his life.

Answer 2

capital receipt

Explanation:

• Life Membership Fee is a capital receipt here we add this to the Capital Fund on liabilities side of Balance Sheet
• Capital receipt are receipt that is create liabilities or reduce financial assets. They also represent incoming cash flow. Capital receipt can be both non-credit and credit receipt. The debt of ordinary people and foreign government and the Reserve Bank of India is an important component of capital receipt.

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life membership fee

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