Select the Liabilities which are shown in the Balance Sheet of a Not-for-Profit Organisation :
(A) Bank Overdraft.
(B) Contingent Liabilities
(C) Legacies received during the year.
(D) General Fund.
(E) Subscription Received in Advance.
Choose the correct answer from the options given below :

Correct option is C

Liabilities shown in the Balance Sheet of a Not-for-Profit Organisation include
(A) Bank Overdraft,
(C) Legacies received during the year,
(D) General Fund, and
(E) Subscription Received in Advance.
Contingent Liabilities are not shown in the Balance Sheet as they are uncertain obligations.