In accounting of non-profit organizations, the sale of old newspapers is generally considered as:

In accounting of non-profit organizations, the sale of old newspapers is generally considered as:

  • (A) Capital expenditure
  • (B) Revenue expense
  • (C) Capital receipt
  • (D) Revenue income
Selling old newspapers is considered revenue or income in nonprofit accounting. Being a routine and day-to-day activity that generates small amounts of cash, it gets credited on the credit side of the income and expenditure account.
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Related MCQs:

 ‘NATO’ is an abbreviation of:

  • (A) North Atlantic Treaty Organization
  • (B) Non-Aligned Treaty Organization
  • (C) Non-Aligned Trading Organization
  • (D) North American Transport Organization

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