Clubs & Societies Flashcards
1
Q
State the meaning of subscriptions
A
Amount paid by members of a club to use the facilities provided by the club
2
Q
State the meaning of accumulated fund
A
Surpluses which accumulated over the years
equivalent to capital of a business
3
Q
State the meaning of receipts and payments account
A
Account summarising the money received and paid by a club during a financial year
