WAEC Accounting 2023 Objective — Question 40
Question 40 of 50 from the West African Examinations Council (WAEC) Accounting 2023 Objective paper, with the correct answer and a full explanation.
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The accumulated fund for a not-for-profit making organization is
- A. assets + liabilities.
- B. assets - liabilities + capital.
- C. assets - liabilities.Correct
- D. capital + liabilities.
Explanation
Accumulated fund = Assets - Liabilities, the not-for-profit equivalent of capital.
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