WAEC Book Keeping 2025 Objective — Question 16

Question 16 of 42 from the West African Examinations Council (WAEC) Book Keeping 2025 Objective paper, with the correct answer and a full explanation.

The excess of expenditure over income of a not-for-profit making organisation would be:

A. Deducted from accumulated fundCorrect
B. Added to accumulated fund
C. Added to the subscription
D. Deducted from the subscription

Explanation

An excess of expenditure over income is a deficit, and like a loss, it is deducted from the accumulated fund (capital) of the organisation.

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