Revenue Items in Club's Income and Expenditure Account

Steps:

• Identify the purpose: Income and Expenditure Account records only revenue incomes and expenses for non-profit clubs, excluding capital items.
• Classify items: Assume 1 is capital receipt (e.g., legacy), 2 is revenue income (e.g., subscriptions), 3 is capital expenditure (e.g., building purchase), 4 is revenue expense (e.g., salaries).
• Match choices: Select pair that includes only revenue items.
• Confirm: 2 and 4 fit revenue criteria.

Why C is correct:

• Per accounting standards for non-profits, Income and Expenditure Account includes only recurring revenue incomes/expenses, like subscriptions (2) and salaries (4), not capital transactions.

Why the others are wrong:

• A: Includes 1 (capital receipt, goes to Balance Sheet).
• B: Includes 1 (capital, not revenue).
• D: Includes 3 (capital expenditure, treated as asset).

Final answer: C