The excess revenue over expenditure is charged to
...The excess revenue over expenditure is charged to
Profit and loss
Revenue account
Accumulated fund
Income and expenditure acccount
Correct answer is C
An accumulated fund is the capital fund of a nonprofit organization. Money is directed into the accumulated fund when revenues are greater than expenditures and there is a budgetary surplus.
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One of the purposes of maintaining the account of a branch at the head office is to? ...