JAMB - Accounts Principles Of Accounts (2016 - No. 31)
I. Members subscription
II. Fines from members
III. Donation
IV. Loan from bank
From the information above, sources of income for a Not-for-profit-making organization include
I,III,IV
I,II,III
I,II,IV
I and IV
Explanation
Nonprofits can and do use the following sources of income to help them fulfill their missions:
- Fees for goods and/or services.
- Individual donations and major gifts.
- Bequests.
- Corporate contributions.
- Foundation grants.
- Government grants and contracts.
- Interest from investments.
- Loans/program-related investments (PRIs)
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