1
Question
What do you mean by Legacy?
What do you mean by Legacy?
Open in App
Solution
Legacy is the amount received as per the will of a deceased person. It appears on the receipt side of the Receipt and Payment Account and is directly added to capital fund in the balance sheet because it is not of recurring nature.
Legacy is the amount received as per the will of a deceased person. It appears on the receipt side of the Receipt and Payment Account and is directly added to capital fund in the balance sheet because it is not of recurring nature.
Suggest Corrections
52
Similar questions
View More
Join BYJU'S Learning Program
Explore more
Join BYJU'S Learning Program
