Question : If there is a Match Fund then Match expenses and Income are transferred to
Option 1: Assets side of balance sheet
Option 2: Income and Expenditure A/c
Option 3: Liabilities side of Balance sheet
Option 4: Both Income and Expenditure A/c and Balance sheet
Correct Answer: Liabilities side of Balance sheet
Solution : If there is a Match Fund then Match expenses and Income are transferred to the Liabilities side of the Balance sheet. Hence, the correct option is 3.
Question : If there is a tournament Fund, then Match Expenses are transferred to
Question : Tiger Club has a prize fund of Rs.8,00,000. It incurs expenses on prizes amounting to Rs.6,00,000. The expenses should be:
Question : Salaries paid Rs 4,500 and salaries debited to Income and Expenditure Account is Rs 5,000, where would the difference be transferred?
Question : When the tournament expenses incurred are more than the tournament fund, then the excess amount is :
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