WAEC Accounting 2012 Objective — Question 28
Question 28 of 50 from the West African Examinations Council (WAEC) Accounting 2012 Objective paper, with the correct answer and a full explanation.
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The term used to denote the capital of a not-for-profit making organization is a
- A. annuity fund
- B. nominal capital
- C. circulating capital
- D. accumulated fundCorrect
Explanation
The equivalent of capital of a business concern in a not-for-profit making organisation is accumulated funds.
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