Multiple Choice Questions on Donation received for a special purpose is a ........ for Commerce 12th Preparation

Accountancy ( 12th) Commerce 12th

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

Donation received for a special purpose is a

Liability

Revenue Receipt

Capital Receipt

both a & c

- Option 1: Liability: This is money or an obligation owed by an organization.Specific purpose donations are typically liabilities.

- Option 2: Revenue Receipt: Revenue receipts are regular income sources for an organization, often earned through operations.

- Option 3: Capital receipts are the ones which lead to creation of a liabilty or reduction of an asset.

- Option 4: both a & c is correct