General donations of relatively large amount is recorded on the
A) Income side of Income and Expenditure Account
B) Liabilities side of Balance Sheet
C) Receipts side of Receipts and Payments Account
D) both b. and c.
Correct Answer:
Verified
Q42: Receipts and Payments Account is a:
A)Personal Account
B)Real
Q43: Donations received for a special purpose will
Q44: Non-trading concern prepare
A)Receipts and Payments A/c
B)Balance Sheet
C)Income
Q45: Receipts and Payments Account of non-trading concerns
Q46: Income and Expenditure Account is prepared in
Q48: The Income and expenditure account begins with
A)Debit
Q49: The receipts and Payments account records receipts
Q50: A profit on the sale of furniture
Q51: Entrance fees are generally
A)Capitalised
B)Taken as income
C)Treated as
Q52: Legacy for specific purpose is :
A)Added to
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