Why life membership is shown on expenditure side i have taken this screenshot from study material of meritnation
Dear Student
Generally, Life membership fees is to be capitalised if it is given in the question.
However if Life membership (Revenue) is mentioned in the question then it is treated as the income of the NPO, In the image you posted also it is present in the Income side .
Please look carefully .
Kindly get back to us for any query
Keep posting
Regards
Generally, Life membership fees is to be capitalised if it is given in the question.
However if Life membership (Revenue) is mentioned in the question then it is treated as the income of the NPO, In the image you posted also it is present in the Income side .
Please look carefully .
Kindly get back to us for any query
Keep posting
Regards