Question

(a) Give the main source of income for not for profit organization
(b) if match fund is 20,000, while match expenses are 23,000, how will you
deal with it in final accounts of not for profit organization?
(c) Which account show Surplus Deficit in not for profit organization?​

Answer 1

a) legacies, donations and subscriptions.

b) I will ask donations

c) Income and expenditure account.

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