From the following information of a club, choose the correct statement:
| Detail | Amount (Rs.) |
|---|---|
| Match Fund | 20,000 |
| Match Expenses | 30,000 |
| Donation for match fund | 15,000 |
| Sale of match ticket | 5,000 |
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → (Rs.) 10,000 will be shown in liability side of Balance Sheet.
A match fund is a special (specific) fund. Donations received for it are added to the fund, and match expenses are met out of the fund instead of being charged to the Income and Expenditure Account. The sale of match tickets is a receipt for the same purpose, so it is added to the fund as well.
Match Fund = Rs. 20,000
Add: Donation for match fund = Rs. 15,000
Add: Sale of match tickets = Rs. 5,000
Total = Rs. 40,000
Less: Match expenses = Rs. 30,000
Balance of Match Fund = Rs. 10,000, shown on the liabilities side of the Balance Sheet
Only a debit (negative) balance of a special fund would go to the Income and Expenditure Account; this fund has a credit balance left.
Note: This question is from the pre-rationalised NCERT book. The topic is not there in the latest NCERT book (2026-27), but it is still in the CUET 2026 syllabus, so do not skip it.
NCERT (Pre-rationalised edition): NCERT (Pre-rationalised edition):
|
