Select the Liabilities which are shown in the Balance Sheet of a Not-for-Profit Organisation.

(A) Bank Overdraft.
(B) Contingent Liabilities
(C) Legacies received during the year.
(D) General Fund.
(E) Subscription Received in Advance.

Choose the correct answer from the options given below.

(A), (C), (D) and (E) only

The correct answer is Option 3- (A), (C), (D) and (E) only.

* Bank Overdraft: This is a liability and is shown on the liabilities side of the balance sheet.

* Legacies received during the year: Legacies received represent funds received by the not-for-profit organization and are considered a liability until they are utilized for the organization's objectives.

* General Fund: The General Fund represents the accumulated surplus of the organization, and it is shown on the liabilities side of the balance sheet.

* Subscription Received in Advance: This is a liability because the organization has received cash in advance for services (subscriptions) that it has not yet provided.

* Contingent Liabilities (option B) are typically not shown on the face of the balance sheet of a not-for-profit organization because they are potential obligations that depend on future events. They are disclosed in the notes to the financial statements.