Question

If match expenses are more than match fund the excess of Match expenses over match fund is transferred to

Answer 1

Answer:

liabilities side in balance sheet

Answer 2

Answer:

Debited to Income and Expenditure Account

Explanation:

Match fund is the liability of not-for-profit organisation, to utilise this fund for happening of match or conduct match by not-for-profit organisation.

All incomes added to match fund and all expenses is adjusted or set off against match fund

If match expenses are more than match fund then the excess of match expense is debited to Income and expenditure account.

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