The term used to denote the capital of a not-fo... - WAEC Accounting 2012 Question
The term used to denote the capital of a not-for-profit making organization is
A
annuity fund
B
nominal capital
C
circulating capital
D
accumulated fund
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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