WAEC Accounting 2021 Objective — Question 31
Question 31 of 50 from the West African Examinations Council (WAEC) Accounting 2021 Objective paper, with the correct answer and a full explanation.
Advertisement
Members of a not-for-profit making organization
- A. earn dividend on their contributions
- B. do not receive surplus at the end of the yearCorrect
- C. are paid interest on their contributions
- D. share profits according to their contributions
Explanation
Unlike profit-making organizations where profits are distributed to owners, in not-for-profit organizations the surpluses that stand as profit are not shared among members.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.