Property received as a result of the will of the deceased person is called:
A) Lagacy
B) Honorarium
C) Donation
D) Subscription
Correct Answer:
Verified
Q12: In case specific fund is maintained, the
Q13: All receipts from sale of consumable items
Q14: Capital fund is calculated:
A)Income-Expenditure
B)Assets Liabilities
C)Capital + Liabilities
D)None
Q15: Subscription received in advance during the current
Q16: Balance of Income and Expenditure Account shows:
A)Cash
Q18: Receipts and Payments Account usually indicates:
A)Surplus
B)Capital fund
C)Debit
Q19: Income and Expenditure Account generally indicates:
A)Surplus/ deficit
B)Cash
Q20: Donation received for a special purpose:
A)Should be
Q21: In not-for-profit organisation, excess of expenditure over
Q22: Which of the following is a non-profitable
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