Accounts (Principles of Accounts)Accounts of not-for-profit organisationsWAEC
A club has 100 members paying ₦2,000 each for the year; 5 members have not paid by the year end. How much subscription income is credited to the income and expenditure account?
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Answer: A. ₦200,000
All subscriptions due for the year (100 × 2,000) are income; the ₦10,000 unpaid is shown as owing.
An AdmitMe practice question, written for the WAEC syllabus. Not an official past question.