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प्रश्न
Answer in one sentence only.
What is an Entrance Fee?
एक पंक्ति में उत्तर
उत्तर
Fee charged from the new members, apart from the annual subscriptions, is termed as entrance fee. It represents the amount to be paid by the person, who intends to become the member of the society, club etc. It can be treated either as a capital receipt or a revenue receipt. Also, it is possible that some portion of it may be capitalised while the rest may be treated as revenue.
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Additional Information - Capitalisation of Entrance Fees
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