Match List I with List II

(A)-(III), (B)-(I), (C)-(IV), (D)-(II)

The correct answer is option (3) : (A)-(III), (B)-(I), (C)-(IV), (D)-(II).

* Endowment fund- Liability side of Balance Sheet. Endowment Fund 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.

* Honorarium- Expenditure side of Income & Expenditure A/c. Honorarium 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.

* Accrued subscription- Assets side of Balance Sheet.  Accrued Subscription is an income for the organisation that is not received so it is an asset of the organisation.

* Donation- Income side of Income & Expenditure A/c.  General 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.