Select the most appropriate answer from the alternatives given below a

1.	Select the most appropriate answer from the alternatives given below and rewrite the sentence.In case of non trading concern the excess of assets over liabilities is termed as _________.OptionsSurplusDeficitCapital fundLoan
Answer» In case of non trading concern the excess of assets over liabilities is termed as capital fund. Explanation: Excess of assets over liabilities, in case of a not-for-profit organisation, is called capital fund. It is same as capital, which is calculated in case of profit-seeking entities. Opening capital fund is calculated by deducting opening liabilities from opening assets. It is shown on the Liabilities side of the Balance Sheet.

Select the most appropriate answer from the alternatives given below and rewrite the sentence.In case of non trading concern the excess of assets over liabilities is termed as _________.OptionsSurplusDeficitCapital fundLoan

Answer»

In case of non trading concern the excess of assets over liabilities is termed as capital fund.

Explanation: Excess of assets over liabilities, in case of a not-for-profit organisation, is called capital fund. It is same as capital, which is calculated in case of profit-seeking entities. Opening capital fund is calculated by deducting opening liabilities from opening assets. It is shown on the Liabilities side of the Balance Sheet.

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Select the most appropriate answer from the alternatives given below and rewrite the sentence.In case of non trading concern the excess of assets over liabilities is termed as _________.OptionsSurplusDeficitCapital fundLoan

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