In a non-profit making organisation, the excess of Assets over liabilities equals?

A. capital
B. capital employed
C. capital owned
D. accumulated funds

Correct Answer: Option D

D. accumulated funds

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.