The accumulation fund of a non-trading concern can equally be referred to as
Options
A) members’ equity >>>>>>>>>>
B) share capital
C) general fund
D) surplus fund
The correct answer is A.
N.B
The organizations, which are established for the purpose of rendering social services to its members and to the society is known as non-trading concern. Such organizations include clubs, schools, colleges. hospitals, libraries, trusts, professional associations and unions.
The accumulation fund of a non-trading concern can equally be referred to as members’ equity.
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