Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 7 - No. 9)
If a club’s accumulated fund increases, it means:
The club had a surplus in the year.
The club had a deficit in the year.
The club's subscriptions decreased.
The club's expenses were very high.
Explanation
An increase in the accumulated fund indicates a surplus (profit) for the year.
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