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 1st Jan, 2024
Answer (1)
Team Careers360 5th Jan, 2024

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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