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Commerce · Q609

Accounting

Graduate and Post Graduate · Commerce · question 609

Q609

Donations received by a charitable institution for some specific purpose are taken to:

A.
Assets side of Balance Sheet
B.
Liabilities side of Balance Sheet
Answer
C.
Income side of Income and Expenditure Account
D.
Expenditure side of Income and Expenditure Account

Answer: Option B

Solution

Answer: Option B
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