Question

Match List-I with List-II.

List-I	List-II
(A) Subscription	(I) Revenue income for the year in which it is received
(B) Endowment Fund	(II) Amount received as per the will of the deceased person
(C) Cash subsidy received from the government	(III) Main source of income of not-for-profit organizations
(D) Legacies	(IV) Fund arising from a bequest or gift

Choose the correct answer from the options given below:

• A. (A)-(II), (B)- (I), (C)- (III), (D)- (IV)
• B. (A)-(III), (B)- (I), (C)- (II), (D)- (IV)
• C. (A)-(II), (B)- (I), (C)- (IV), (D)- (III)
• D. (A)-(III), (B)- (IV), (C)- (I), (D)- (II)

Answer 1

The Correct Option is A

Let's analyze each option and match them appropriately:

(A) Subscription

• Subscription refers to donations or contributions made regularly by individuals or groups, and it is generally considered a revenue income for the year in which it is received.
  Therefore, (A) matches with (II) Revenue income for the year in which it is received.

(B) Endowment Fund

• An Endowment Fund is a fund that arises from a bequest or gift and is typically intended to provide a long-term income for the organization.
  Therefore, (B) matches with (IV) Fund arising from a bequest or gift.

(C) Cash subsidy received from the government

• A cash subsidy received from the government is generally a main source of income for Not for Profit organizations, often used to support their activities.
  Therefore, (C) matches with (III) Main source of income of Not for Profit organizations.

(D) Legacies

• Legacies refer to amounts received as per the will of a deceased person, often given as donations to an organization.
  Therefore, (D) matches with (I) Amount received as per the will of the deceased person.

Thus, the correct answer is (A): (A)-(II), (B)-(IV), (C)-(III), (D)-(I).

 

 

Answer 2

Subscription (A) refers to revenue income for the year in which it is received (I).
Endowment Fund (B) arises from a bequest or gift, meaning it is a fund established to provide income (IV).
Cash subsidy received from the government (C) is typically revenue income, serving as a main source of income for not-for-profit organizations (III).
Legacies (D) are amounts received as per the will of the deceased person (II).