Answer the question.
What is Specific Donation? How it is different from General Donation?

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Solution

Specific Donations are received by a non-profit organisation for specific purpose only, while general donations are not meant for any specific purpose. Specific donations are treated as capital receipts and shown on the liabilities side of the Balance Sheet. General Donations of small amounts are treated as revenue receipts and big amounts are of non-recurring nature and are treated as capital receipts.

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Donation received for specific objective will be shown :

Donation to promote general objectives of the organisation is called _____________

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