A credit balance on a receipt and payments account indicates that the non-profit making organization?...
FINANCIAL
JAMB 1999
A credit balance on a receipt and payments account indicates that the non-profit making organization?
- A. had more revenues than expenses during the period
- B. did not owe much liabilities during the period
- C. received more cash than it paid out during the period
- D. made more cash payments than it received during the period
Correct Answer: D. made more cash payments than it received during the period
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