State with reasons whether the following statements are TRUE or FALSE:
Scholarships granted to students out of funds provided by government will be debited to Income and Expenditure Account.

Explanation

​​​​​​The on top of statement is fake. this is often as a result of, If any fund is provided for any specific purpose, then all several incomes / expenses area unit more or ablated from the several fund. Here, Government has provided fund for the scholarships. So, scholarship given are subtracted from that fund