A school receives sports equipment free of cost from an authorised don

Type: MCQ • Marks: 1

A school receives sports equipment free of cost from an authorised donor The equipment should:

A. Be recorded and safeguarded according to applicable asset/stock procedures

B. Be treated as the personal property of the receiving teacher

C. Be left unrecorded because no cash was spent

D. Be immediately sold

Explanation

Receipt without cash expenditure does not eliminate the institution's responsibility to account for and safeguard the asset.

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UPSC Principal & Vice Principal Management Finance Administration

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A school receives sports equipment free of cost from an authorised donor The equipment should: