Where the life membership fees will be shown in income and expenditure account and in balance sheet?
A. in debit side of income and expenditure
B. in assets side of balance sheet
C. in credit side of income and expenditure
D. in liabilities side of balance sheet
Answer:C
Where the life membership fees will be shown in income and expenditure account and in balance sheet?
A. in debit side of income and expenditure B. in assets side of balance sheet C. in credit side of income and expenditure D. in liabilities side of balance sheet