Financial and Management Accounting

1: General donations of relatively large amount is recorded on the 1. Income side of Income and Expenditure Account 2. Liabilities side of Balance Sheet 3. Receipts side of Receipts and Payments Account Select the correct answer using the codes given below:
A.

1 only

B.

2 and 3

C.

1 and 3

D.

3 only

 

Answer : B

Explanation :

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Option: A

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