Accountancy Part AAccounts for Non Profit Organsiation

Match the following. LIST 1 LIST 2 (A) Sale of Periodicals (I) Honora…

Match the following.

LIST 1	LIST 2
(A) Sale of Periodicals	(I) Honorarium
(B) Annual Membership Fees	(II) Entrance Fees
(C) Admission fee paid once to become member	(III) Recurring Nature
(D) Payment to an artist for performing at the club	(IV) Subscription

Choose the correct answer from the options given below:

Answer & explanation

Correct answer: option 3

The correct answer is Option (3) → (A)-(III), (B)-(IV), (C)-(II), (D)-(I)

Each receipt or payment of a Not-for-Profit Organisation is identified by its nature.

(A) Sale of Periodicals — this matches (III) Recurring Nature. It is shown on the income side every year.
(B) Annual Membership Fees — this matches (IV) Subscription.
(C) Admission fee paid once to become member — this matches (II) Entrance Fees.
(D) Payment to an artist for performing at the club — this matches (I) Honorarium. It is paid to a person who is not a regular employee.

Note: This question is from the pre-rationalised NCERT book. The topic is not there in the latest NCERT book (2026-27), but it is still in the CUET 2026 syllabus, so do not skip it.

NCERT (Pre-rationalised edition):
Sale of Periodicals – “It is an item of recurring nature and shown as the income side of the Income and Expenditure Account.”

NCERT (Pre-rationalised edition):
Subscriptions – “Subscription is a membership fee paid by the member on annual basis. This is the main source of income of such orgnisations.”

NCERT (Pre-rationalised edition):
Entrance Fees – “Entrance fee also known as admission fee is paid only once by the member at the time of becoming a member.”

NCERT (Pre-rationalised edition):
Payments of Honorarium – “It is the amount paid to the person who is not the regular employee of the institution. Payment to an artist for giving performance at the club is an example of honorarium.”