When a specific fund like Tournament Fund exists, the related expenses are deducted from the fund itself and not transferred to the Income and Expenditure Account. The net balance of the fund is then shown on the liabilities side of the Balance Sheet.
Note: This NPO-related question has been classified under Financial Statements / Nature-Structure as NPO accounting is not a listed subtopic.
If there appears a Tournament Fund, then the expenses incurred on Tournament activities will be shown :
CUET UG 2023 — Accountancy Financial Statements
2023mcqeasy
If there appears a Tournament Fund, then the expenses incurred on Tournament activities will be shown :
Official previous-year question
Held on 28 May 2023 · Verified 13 Jul 2026.
Options
- A
on the debit side of Income and Expenditure Account
- B
on the credit side of Income and Expenditure Account
- C
by way of adding to the Tournament Fund
- D
by way of subtracting/deducting from Tournament Fund
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