Match the following-

1) c, 2) d, 3) a, 4) b

*Life membership fees- Non-profit organisation do not maintain any capital account. Instead they maintain capital fund which is also called general fund that goes on accumulating due to surpluses generated, life membership fee, etc., received from year to year. In fact, a proper system of accounting is desirable to avoid or minimise the chances of misappropriations or embezzlement of the funds contributed by the members and other donors. So, it is added to capital fund.

* Loan from bank- Loan from bank is a long term debt of the organisation. So, it is shown on the liabilities side of balance sheet.

* Income and expenditure account- Income and Expenditure Account is the summary of income and expenditure for the accounting year. It is just like a profit and loss account prepared on accrual basis in case of the business organisations. It includes only revenue items and the balance at the end represents surplus or deficit.

* Receipts and payments A/c- Receipt and Payment Account is prepared at the end of the accounting year on the basis of cash receipts and cash payments recorded in the cash book. It is a summary of cash and bank transactions under various heads.