Question :
As all other business concerns be its sole proprietorship or partnership have capital, a not-for- profit organisation has:
Option 1:
capital fund
Option 2: general fund
Option 3: any of these
Option 4: none of these
Correct Answer: any of these
Solution : For a not-for-profit organisation, a capital fund or general fund is like the capital of a sole proprietorship. Hence, the correct option is 3.
General donations are treated as:
A credit balance of Income and Expenditure for
Receipts and Payments Account does not include
An account akin to Profit and Loss Account in
Delhi Sports club has sports fund investment Rs.
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