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What is the legancy

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What is the legancy

Posted by Khushi Rajput 4 years ago

CBSE > Class 12 > Accountancy

2 answers

Nishu Dahiya 4 years ago

The anything which we have got from our ancestors .

Gaurav Seth 4 years ago

Legacy is the amount received by the not-for-profit organisation as per the will of a deceased person. It is non-recurring in nature and, therefore, treated as capital receipt. Hence, legacy cannot be treated as the main source of income for an NPO.

It is not the main source of income for an NPO. It is treated as a capital receipt.

ANSWER

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