In a non-profit making organisation, the excess of Assets over liabilities equals
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Correct Answer: Option D
Explanation:
The excess of the assets over the liabilities of a non-profit making concern is called Accumulated Fund. It is the capital of a non-profit making association. In order to ascertain the accumulated fund, a statement of affairs will be prepared.
The excess of the assets over the liabilities of a non-profit making concern is called Accumulated Fund. It is the capital of a non-profit making association. In order to ascertain the accumulated fund, a statement of affairs will be prepared.