Question : Endowment fund received by NPO is:
Option 1: Capital Expenditure
Option 2: Revenue Expenditure
Option 3: Revenue Receipt
Option 4: Capital Receipt
Answer (1)
17th Jan, 2024
Correct Answer: Capital Receipt
Solution :
An endowment fund is a fund arising from a bequest or gift, the income of which is devoted to a specific purpose. Thus, it is a capital receipt because it provides a permanent income to the institution.
Hence, the correct option is 4.
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