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WAEC Financial Accounting 1999 Question 19

Question 19

Not-for-Profit Organisations

In not-for-profit-making organisations, accumulated fund is the name for

  1. A.Profit
  2. B.loss
  3. C.capital
  4. D.current assets.
Show the answer and explanation

Answer: C (capital)

Explanation

The accumulated fund is the club's capital.