WAEC Accounting 2018 Objective — Question 35
Question 35 of 50 from the West African Examinations Council (WAEC) Accounting 2018 Objective paper, with the correct answer and a full explanation.
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The excess of assets over liabilities of a not–for–profit making organization is
- A. surplus
- B. deficit
- C. working capital
- D. accumulated fundCorrect
Explanation
For a not-for-profit organisation, the excess of assets over liabilities is called the accumulated fund (equivalent to capital).
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