In a non-profit making organisation the excess ... - JAMB Accounting 2019 Question
In a non-profit making organisation, the excess of Assets over liabilities equals
A
capital
B
capital employed
C
capital owned
D
accumulated funds
correct option: d
An accumulated fund is the capital fund of a nonprofit organization. Money is directed into the accumulated fund when revenues are greater than expenditures and there is a budgetary surplus.
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