The best definition of legacy is the amount that is received by NPO is nbsp ...

General Accounting Principles Not for profit organisation Add to Study Deck

The best definition of legacy is the amount that is received by NPO is-

Revenue receipt – received as a donation

Capital receipt - amount which is received by organisations as per the will of a deceased person.

Capital Receipt – received as a donation

None of the above

Explanation:

Legacies is the amount which is received by organisations as per the will of a deceased person. It is treated as a capital receipt

Submit Error

Weekly Current Affairs