The term used to denote the capital of a not-for-profit making organization is

Accounts - Principles of Accounts

WAEC 2012

A. annuity fund
B. nominal capital
C. circulating capital
D. accumulated fund

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Correct Answer: Option D

Explanation

An accumulated fund is the capital fund of a nonprofit organization. Money is directed into the accumulated fund when revenues are greater than expenditures and there is a budgetary surplus.

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The term used to denote the capital of a not-for-profit making organization is

Correct Answer: Option D

Explanation

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