Legacies are amounts received by a not-for-profit organisation as per the will of a deceased person. They are generally treated as a capital receipt and shown on the liabilities side of the Balance Sheet, unless of a small recurring nature.
CUET UG 2023 — Accountancy Financial Statements
Identify the term that is used to show the amount received as per the will of a deceased person.
Held on 29 May 2023 · Verified 13 Jul 2026.
Specific Donations
Life membership fees
Subscription
Legacies
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Profit before interest and tax-
Match List-I with List-II | List-I | List-II | |---|---| | (A) SHAREHOLDERS FUND | (I) Non-current investments | | (B) CURRENT LIABILITIES | (II) Reserves and Surplus | | (C) CURRENT ASSET | (III) Trade Payables | | (D) FIXED ASSET | (IV) Inventories | Choose the correct answer from the options given below:
Auditor issues Annual report of company refering to___.
If the net profits earned during the year is Rs. 50,000 and the amount of debtors at the beginning and the end of the year is Rs. 10,000 and Rs. 20,000 respectively, then the cash from operating activities will be equal to:
Cash advances and loans made by financial enterprises are usually classified as ___________ activity.
Work through every CUET UG Financial Statements PYQ, year by year.