In a not-for-profit organization, 'Life Membership Fees' is usually treated as: MCQ with Answer and Explanation

Explanation:
S1 is incorrect because the Business Entity Concept treats the business and its owners as separate and distinct. S2 is correct as the Money Measurement Concept only records transactions expressible in monetary terms, ignoring qualitative aspects.

Explanation:
For inter-state, place of supply generally is the destination state.

Explanation:
An amended cash book adjusts for items like direct deposits, bank charges, and clerical errors in the cash book before reconciling timing differences.