WAEC Accounting 2013 Objective — Question 17
Question 17 of 50 from the West African Examinations Council (WAEC) Accounting 2013 Objective paper, with the correct answer and a full explanation.
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The accumulated fund of a not-for-profit making organisation is a
- A. fixed asset
- B. current asset
- C. liability
- D. capitalCorrect
Explanation
While profit making organisations use capital, not-for-profit making organisations use accumulated fund.
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