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A charitable institution often received donations, donations may be a general donation or a specific donation. 1. General donation is a donation in which donor does not specify any condition for its use. This account of general donation is accounted as an income and credited to income and expenditure account. 2. Specific donation is a donation where the donor specifies the purpose for which the donation can be used. Specific donations are capitalised and is shown in the liability side of balance sheet. Legacy is the amount received as donation by a Not-for-profit organization under WILL of a deceased person. The donor may or may not specify conditions for its use. In case no conditions are specified it is accounted as general donation and if a specific condition is specified, it is accounted as ‘Specific donation’. In the absence of information in the above question regarding imposing any specific condition by the donor on utilisation of Donation & Legacy amount, it is assumed that they fall in category of general donation and hence will be credited to revenue account i.e., Income and expenditure account
In Saturday, New York detected (A)/three more cases of the omicron variant, (B)/bringing the total number (C)/of the statersquo;s cases to eight (D).
Select the segment which has a grammatical error in the given sentence. If there is no error, select ‘no error.
Radha along with her friends ...
Rama has(A)/ no taste(B)/ in classical music.(C)/ No error(D)
Parts of the following sentence are given as options. Identify the segment that contains a grammatical error.
Each one of the children in a nur...
We need to have appetite for change, and the courage for change, and we need the census to do so.
The army men or the commander-in-chief (A)/were not ready (B)/to accept defeat so easily, (C)/so they fought fiercely (D).
A jam-packed hall in Kolkata reverberated on Jan 21, 2003, when the 11th President of India inspired thousands of school children to dream, t...
The daughter of a brewmaster (A)/for India-based United Breweries, (B)/Mazumdar-Shaw originally planned (C)/following in her father's footsteps (D).
Identify the segment in the sentence, which contains the grammatical error.
Why should always we have to wait for her to join us?
