What is the difference between general and specific donations?

General Donation is the donation in which the donor does not specify any condition for its use. The amount of general donation is an income and we credit it to Income and Expenditure Account. Specific Donation: It means the donation should be used only for the library, i.e., it is a specific donation.

What does specific donation mean?

Specific Donations are received by a non-profit organisation for specific purpose only, while general donations are not meant for any specific purpose. Specific donations are treated as capital receipts and shown on the liabilities side of the Balance Sheet.

What are the two types of donations?

There are two types of organ donations – Living Organ Donations & Deceased Organ Donations. Living Organ Donation: This is when you retrieve an organ from a healthy living person and transplant it into the body of someone who is suffering from end-stage organ failure.

What are the types of donations?

Types of Blood Donations

• Whole Blood Donation. Whole blood is the most flexible type of donation.
• Power Red Donation. During a Power Red donation, you give a concentrated dose of red cells, the part of your blood used every day for those needing transfusions as part of their care.
• Platelet Donation.
• Plasma Donation.

What do you mean by specific donation Class 12?

(ii) Specific Donation : If donation received for a particular purpose and can be used/spent for the same purpose only, it is known as specific donation. For example, donation received for the construction of the. building. It is treated as Capital Receipt.

What is the nature of specific donation?

Donations received for specific object are to be considered as tied up fund and it is capital receipt.

When general donation is received it is?

Credit side of income and Expenditure Account. Debit side of Income and Expenditure Account.

What is general fund in NPO?

It has all liabilities and assets as on the date of the preparation of the balance sheet by the organization. The excess of assets over the liabilities is termed as Capital Fund or the General Fund.

What is money donation?

countable noun. A donation is something which someone gives to a charity or other organization. COBUILD Advanced English Dictionary. Copyright © HarperCollins Publishers.

What are the three types of donors?

Living Donors A living donor is someone who’s healthy and chooses to donate a kidney to a person who needs a kidney transplant. Living donors who donate to a relative or someone they know are called directed donors. Non-directed donors (also called altruistic or Good Samaritan donors) donate to someone they don’t know.

How is general donation treated?

(i) General Donation : If donation received for not a specific purpose and can be utilized for any purpose, is known as general donation. It is treated as Revenue Receipt. It is treated as Capital Receipt.