Specific Donations are shown on the __________ whereas General Donations are taken on the __________.
liabilities side of the Balance Sheet; income side of the Income & Expenditure Account
Specific donations are generally shown on the liabilities side of the balance sheet as they are typically earmarked for a specific purpose, while general donations are taken to the income side of the Income & Expenditure account as they are considered general income for the organization. The correct answer is option 1.
Important Questions from Financial Organisations
Special Economic Zones are being set up by the Government in order to attract:
Which institution is responsible for calculating the GDP of India?
In which income group does India fall on the basis of Gross National Income classified by the World Bank?
With which of the following has India inked a $346 million loan agreement to finance Karnataka State Highways improvement III Project (KSHIP – III)?
What does 'E' stand for in SEBI?
