Question

what you mean by life membership fee? ​

Answer 1

In simple words.....The definition of life membership in the dictionary is the fact or condition of being a life member.

Answer 2

Life Membership Fee is a fee which is paid by anyperson who wants to secure their life.

• Life memebership fee is either paid monthly, quarterly or yearly depending upon the terms and condition.
• It is a capital receipt which is shown in reciept and paymnet account.
• It is also shown in the liability side of the balance sheet.
• It is a type of fee which any member pays once in a lifetime and they get the advantage of this through out their life.