Question :
General donations are treated as:
Option 1:
Revenue receipt
Option 2:
Capital receipt
Option 3: Revenue expenditure
Option 4: Capital expenditure
Correct Answer:
Solution : General donations are for non-specific purposes and are treated as revenue receipts. Hence, the correct option is 1.
Any amount received as per the will of a
A credit balance of Income and Expenditure for
Which of the following show the debit balance
An account akin to Profit and Loss Account in
Receipts and Payments Account does not include
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