explain the meaning and accounting treatment of donation
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Amount received from members and general public by way of gift is known as donation. The term is usually used in accounting for non-profit making concerns. Its treatment as capital or revenue depends upon the purpose for which the donation is collected.
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Amount received from members and general public by way of gift is known as donation. The term is usually used in accounting for non-profit making concerns. Its treatment as capital or revenue depends upon the purpose for which the donation is collected
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