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P2 C9 Accounts ol‘Non—trading Concerns — Account STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceAccountP2 C9 Accounts ol‘Non—trading Concerns1 Mark
MCQ
Where will the prizes distribution recorded?
  • A
    Debited to Income - Expenditure Account
  • B
    Debited to Receipt Payment Account.
  • ✓
    Deducted from prize fund in Balance Sheet
  • D
    Deducted from prize fund investments in Balance Sheet.
✓

Answer

Correct option: C.
Deducted from prize fund in Balance Sheet

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