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WAEC Financial Accounting 2000 Question 47

Question 47

Not-for-Profit Organisations

The capital of a not-for profit making organization is

  1. A.capital reserve fund
  2. B.accumulated fund
  3. C.endowment fund
  4. D.development fund.
Show the answer and explanation

Answer: B (accumulated fund)

Explanation

A club's capital is called its accumulated fund.