What is the treatment of receipt from charity show and expenses on charity show?

A. This is a specific fund and separate account should be maintained.

B. Separate account should be maintained and excess of receipt over expenses shown in Balance Sheet

C. Receipt in Receipt side. Expense in Expenditure side. Balance in specific Fund account.

D. Receipt from charity show on credit side and expenses should be deducted from receipts on credit side of Income and Expenditure Account.

E. There is no specific Account for this.

Choose the correct answer from the options given below. 

D and E only

The correct answer is option 4- D & E only.

Receipt from charity shows on credit side and expenses shows on debit side of Income and Expenditure Account. Receipts from the charity show are recorded on the credit side of the Income and Expenditure Account, representing the income generated and Expenses incurred for the charity show are debited to reflect the net amount used for the charitable purpose.