MCQs > Finance & Management > Accounting Principles > How are gifts to a charity which are to be further passed on to a 3rd party accounted for while being held by the charity?

Accounting Principles MCQs

How are gifts to a charity which are to be further passed on to a 3rd party accounted for while being held by the charity?

Answer

Correct Answer: Dr: Asset, Cr: Liability

Explanation:

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