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Accountancy · 2022 · 2 marks
Accounting for Not-for-Profit OrganisationAccounting Records of Not-for-Profit Organisations2 marksvery short answer
CBSE 2022 · Region 3 · Set 2 · Q1
List any four items that are considered as Capital items while preparing financial statements of a NotforProfit Organisation.
List any four items that are considered as Capital items while preparing financial statements of a NotforProfit Organisation.
Marking-scheme solution
Any four of the following items :
1. Life membership fee
2. Sale/Acquisition of fixed assets
3. Legacies
4. Funds received for special purposes
5. Specific donations
6. Obtaining repayment of long-term loans
7. Purchasing investments and making fixed deposits
(Or any other correct point)
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CBSE Class 12 Accountancy past-paper question from the 2022 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.