Question :
Which of the following will appear on the asset side of the Balance Sheet of a club?
Option 1:
Specific fund
Option 2:
Surplus earned during the year
Option 3:
Salary outstanding
Option 4: Subscription outstanding
Correct Answer: Subscription outstanding
Solution : Subscription outstanding is the income accrued but not received hence it is an asset and will come in the Balance Sheet. Hence, the correct option is 4.
Receipts and Payments Account does not include
General donations are treated as:
Which of the following is not a feature of a
An account akin to Profit and Loss Account in
Any amount received as per the will of a
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