NABTEB Book Keeping 2015 Objective — Question 22

Question 22 of 40 from the National Business and Technical Examinations Board (NABTEB) Book Keeping 2015 Objective paper, with the correct answer and a full explanation.

The loss made by a not-for-profit making organization is

A. arrears
B. deficitCorrect
C. overdraft
D. surplus

Explanation

A not-for-profit making organization's loss (excess of expenditure over income) is termed a deficit.

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