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 the asset side of the Balance Sheet
Option 3: shown as a reduction from Match Fund on the side of the Balance Sheet
Option 4: none of these

Question

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 the asset side of the Balance Sheet

Option 3: shown as a reduction from Match Fund on the side of the Balance Sheet

Option 4: none of these

Team Careers360 · Accepted Answer

Correct Answer: shown as a reduction from Match Fund on the side of the Balance Sheet

Solution : Match Fund is a specific fund and all the expenses and income related to this fund will be subtracted and added from/to this on the liabilities side of the Balance Sheet. Hence the correct option is 3.

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Question : A club maintains Match Fund, then all the expenses related to Match will be:Option 1: debited to income and expenditure accountOption 2: shown on the asset side of the Balance SheetOption 3: shown as a reduction from Match Fund on the side of the Balance SheetOption 4: none of these

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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 the asset side of the Balance Sheet
Option 3: shown as a reduction from Match Fund on the side of the Balance Sheet
Option 4: none of these

Question :
A club maintains 'Match Fund', then all the