Accountancy Part AAccounts for Non Profit Organsiation

......................is the amount received as per the will of a dec…

......................is the amount received as per the will of a deceased person.

Answer & explanation

Correct answer: option 4

The correct answer is Option (4) → Legacies

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):
Some Peculiar Items – “… Legacies: It is the amount received as per the will of a deceased person who may or may not specify the use of the amount.”