Question Description
In not-for-profit accounting, what is the treatment for a donation received for a specific purpose, like constructing a pavilion?a)It is recorded as a liability.b)It is treated as revenue for the period.c)It is credited to a special purpose fund.d)It is directly expensed in the Income and Expenditure Account.Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In not-for-profit accounting, what is the treatment for a donation received for a specific purpose, like constructing a pavilion?a)It is recorded as a liability.b)It is treated as revenue for the period.c)It is credited to a special purpose fund.d)It is directly expensed in the Income and Expenditure Account.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In not-for-profit accounting, what is the treatment for a donation received for a specific purpose, like constructing a pavilion?a)It is recorded as a liability.b)It is treated as revenue for the period.c)It is credited to a special purpose fund.d)It is directly expensed in the Income and Expenditure Account.Correct answer is option 'C'. Can you explain this answer?.

Solutions for In not-for-profit accounting, what is the treatment for a donation received for a specific purpose, like constructing a pavilion?a)It is recorded as a liability.b)It is treated as revenue for the period.c)It is credited to a special purpose fund.d)It is directly expensed in the Income and Expenditure Account.Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.

Here you can find the meaning of In not-for-profit accounting, what is the treatment for a donation received for a specific purpose, like constructing a pavilion?a)It is recorded as a liability.b)It is treated as revenue for the period.c)It is credited to a special purpose fund.d)It is directly expensed in the Income and Expenditure Account.Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of In not-for-profit accounting, what is the treatment for a donation received for a specific purpose, like constructing a pavilion?a)It is recorded as a liability.b)It is treated as revenue for the period.c)It is credited to a special purpose fund.d)It is directly expensed in the Income and Expenditure Account.Correct answer is option 'C'. Can you explain this answer?, a detailed solution for In not-for-profit accounting, what is the treatment for a donation received for a specific purpose, like constructing a pavilion?a)It is recorded as a liability.b)It is treated as revenue for the period.c)It is credited to a special purpose fund.d)It is directly expensed in the Income and Expenditure Account.Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of In not-for-profit accounting, what is the treatment for a donation received for a specific purpose, like constructing a pavilion?a)It is recorded as a liability.b)It is treated as revenue for the period.c)It is credited to a special purpose fund.d)It is directly expensed in the Income and Expenditure Account.Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice In not-for-profit accounting, what is the treatment for a donation received for a specific purpose, like constructing a pavilion?a)It is recorded as a liability.b)It is treated as revenue for the period.c)It is credited to a special purpose fund.d)It is directly expensed in the Income and Expenditure Account.Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice CA Foundation tests.