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
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.
Question : Entrance/Admission Fee received by the NPO is:
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 : Rent received Rs 3,500 and rent credited to Income and Expenditure Account is Rs 4,000, where would the difference be transferred?
Question : Subscription received for special events is
Question : If there is a Match Fund then Match expenses and Income are transferred to
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