Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounts for Non Profit Organsiation

Question:

Identify the admission fee that is paid only once by a person to become member of a Not-for-Profit Organisation.

Options:

Life Membership Fees

Entrance Fee

Subscription

Legacies

Correct Answer:

Entrance Fee

Explanation:

The correct answer is Option (2) → Entrance Fee

An entrance fee is a one-time payment made by an individual when joining an organization. Once paid, the individual becomes a member of the organization and is not required to pay this fee again.