Question : Specific Donation received by NPO are shown in the:
Option 1: Credit side of income and expenditure account
Option 2: Debit side of income and expenditure account
Option 3: Assets side of balance sheet
Option 4: Liabilities side of balance sheet
Answer (1)
17th Jan, 2024
Correct Answer: Liabilities side of balance sheet
Solution :
A specific fund is a fund that comes under the liabilities side of the Balance Sheet.
Hence, the correct option is 4.
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