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Home Questions JWAAWXB8U8
Target Exam

CUET

Subject

Accountancy

Chapter

Accounts for Non Profit Organsiation

Question:

Which of the following is not a revenue receipt for a charitable institution?

Options:

Subscriptions from members

Government Grants of general nature

Entrance fees

Donation for a tournament

Correct Answer:

Donation for a tournament

Explanation:

The correct answer is option 4- Donation for a tournament.

Donation for a tournament is for a specific purpose and thus it is capital in nature and shown on the liability side of balance sheet. All other items are shown on the credit side of income and expenditure account.

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