Question

Usually ________ is a major source of revenue income for 'Not for Profit' concerns. (Fill in the blank by choosing correct option)
a) subscription
b) donations
c) legacies
d) life membership

Answer 1

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Your Answer:-

Option B) Donation is the correct answer.


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Answer 2

Usually __subscription__ is a major source of revenue income for 'Not for Profit' concerns.

• For concerns that do not gain any profit, the main income source is the subscription based revenue.

• For expenditure and income account in the income side, the credit is recorded.

• Non profit organisation do not make any profit on their own, as the revenues they get from the customer due to their subscription is not shared among shareholders or partners.

• It is rather invested on the future benefit of the organisation.