Accountancy, asked by duttabishwajit1, 10 months ago

True/false
1.life membership fee is a revenue receipt.​

Answers

Answered by goviven76
4

Answer:

FALSE

Explanation:

Life membership fee is a capital receipt

Answered by raviprakashtiwari470
28

Answer:

false

capital

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.

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