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
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.