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If genral funds are received in …

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If genral funds are received in huge amounts say 20 lac do they become a liability?

    • Posted by Goshmi Abrol 5 years, 7 months ago

    CBSE > Class 12 > Accountancy
    • 1 answers

    Indrajeet Singh Arora 5 years, 7 months ago

    Yes . General donation is shown in liability because if they are of huge amount then. an NPO would not expect such a huge amount every year . However if tbe amount is small the it is shown in the income and expenditure A/c credit side.

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