Question

If there is a match fund, then match expenses and match income are transferred to

(a) Income and Expenditure Account

(b) An assets side of Balance Sheet

(c) Liabilities of the Balance Sheet


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Answer 1

Answer:

Answer: Liabilities of the Balance Sheet

Answer 2

Answer:

Hence, the correct option is Liabilities

Explanation:

Match fund is a particular fund which is used for conducting match which is completely liabilities for an organisation or club.

So, all the expenses related to match is adjusted or set off against match fund.

All the incomes related to match is added to match fund.

But in case, if expenses exceed to match fund including all incomes related to match then it should be debited to Income and Expenditure account.

So, Match fund is the liabilities of organisation

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