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Donation received for specific objective will be shown—
In Income and Expenditure A/c
On Liabilities side of B/S
On Assets side of B/S
None of these
A donation which is received for a specific purpose is a capital receipts. This has to be utilized only for the specific purpose. This is a capital receipt and is shown on On Liabilities side of B/s.
By: Subhash Singh ProfileResourcesReport error
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