Question :
A club maintains 'Match Fund', then all the expenses related to match will be:
Option 1: Debited to Income and Expenditure Account
Option 2: Shown on asset side of Balance Sheet
Option 3: Shown as a deduction from match fund on liabilities side of Balance Sheet
Option 4: None of these
Correct Answer: Shown as a deduction from match fund on liabilities side of Balance Sheet
Solution : All the income and expenses of special receipts will be added and deducted from its fund. Hence, the correct option is 3.
Yoga Club collected life membership fees of
How would the following items be shown in the
Delhi Sports club has sports fund investment Rs.
How would the following items be shown in the case of a not-for- profit
Which of the following will appear on the asset
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