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JAMB Accounting 2011 Objective — Question 31

Question 31 of 49 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2011 Objective paper, with the correct answer and a full explanation.

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

A. A. entity fund
B. B. capital owned
C. C. accumulated fundCorrect
D. D. capital employed

Explanation

Accumulated fund is the equivalent of capital for a non-profit organization.

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