passwella.
Menu

JAMB Principles of Accounts 2011 Question 32

Question 32

Not-for-Profit Organisations

The capital of not-for-profit-making organization is referred to as

  1. A.entity fund
  2. B.capital owned
  3. C.accumulated fund
  4. D.capital employed.
Show the answer and explanation

Answer: C (accumulated fund)

Explanation

A club's capital is called its accumulated fund.