Match List I with List II. List I List II (A) Endowment fund (I) Expe…

Match List I with List II.

List I	List II
(A) Endowment fund	(I) Expenditure side of Income & Expenditure A/C
(B) Honorarium	(II) Income side of Income & Expenditure A/C
(C) Accrued subscription	(III) Liability side of Balance Sheet
(D) Donation	(IV) Assets side of Balance Sheet

Choose the correct answer from the options given below.

Answer & explanation

Correct answer: option 3

The correct answer is Option (3) → (A)-(III), (B)-(I), (C)-(IV), (D)-(II)

(A) Endowment fund — this matches (III) Liability side of Balance Sheet. It is a capital receipt kept as a specific fund.

(B) Honorarium — this matches (I) Expenditure side of Income & Expenditure A/C. It is a payment to a person who is not a regular employee.

(C) Accrued subscription — this matches (IV) Assets side of Balance Sheet. Accrued (outstanding) subscription, due but not received, is an amount receivable.

(D) Donation — this matches (II) Income side of Income & Expenditure A/C. A general donation is a revenue receipt.

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):
Endowment Fund – “… It is a fund arising from a bequest or gift, the income of which is devoted for a specific purpose. Hence, it is a capital receipt and shown on the Liabilities side of the Balance Sheet as an item of a specific purpose fund.”

NCERT (Pre-rationalised edition):
Payments of Honorarium – “… It is the amount paid to the person who is not the regular employee of the institution. Payment to an artist for giving performance at the club is an example of honorarium. This payment of honorarium is shown on the expenditure side of the Income and Expenditure Account.”

NCERT (Pre-rationalised edition):
Balance Sheet

Extract from the NCERT textbook

NCERT (Pre-rationalised edition):
General Donations – “… Such donations are to be utilised to promote the general purpose of the organisation. These are treated as revenue receipts as it is a regular source of income hence, it is taken to the income side of the Income and Expenditure Account of the current year.”