WAEC - Accounts Principles Of Accounts (2023 - No. 32)
The accumulated fund for a not-for-profit making organization is
capital + liabilities
assets - liabilites
assets + liabilites
assets - liabilities + capital
Explanation
The capital of a non-profit making organization is known as Accumulated fund. It is calculated as: Accumulated fund = Total assets - Total liabilities.
Comments (0)
