The accumulated fund for a not-for-profit making organization is
FINANCIAL
WAEC 2023
The accumulated fund for a not-for-profit making organization is
- A. capital + liabilities
- B. assets - liabilities
- C. assets + liabilities
- D. assets - liabilities + capital
Correct Answer: B. assets - liabilities
Explanation
The capital of a non-profit making organization is known as Accumulated fund. It is calculated as: Accumulated fund = Total assets - Total liabilities.
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