Any donation received for a specific purpose is a ___________.

Liability

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Assets

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Revenue Receipts

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Capital Receipts

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Solution

The correct option is B Capital Receipts
If donation is received without a specific purpose, it is a revenue receipt. But if donation is received for a specific purpose, this is considered as capital receipts and all expenses incurred towards the specific purpose should be set off from this receipt.

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Donation received for a special purpose :

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