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Answer: B. capital receipt

Answer: (b) capital receipt

A donation received for a specific purpose such as a building fund is non-recurring and must be used for that purpose only, so it is a capital receipt. It is shown on the liabilities side of the Balance Sheet (added to the Building Fund), not in the Income and Expenditure Account.

Doubtly AI · 29 Oct 2026 AI-generated · not yet verified Report
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