The excess of income over expenditure in a non-profit oriented organization is?

By: |Published on: Aug 19|Categories: Accounting WAEC| 0 comments

A. asses to the capita,l
B. added to the accumulated fund
C. deducted from the capital
D. deduced from the accumulated fund
E. deduced from the reserve

Correct Answer:

Option B – added to the accumulated fund

Users Also Read These:

SEE ALSO  Which of the following accounts belongs to the personal ledger?

Copyright warnings! Do not copy.