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O-LevelAccountingThe fundamentals of accounting7707/11 · May/June 2021 · Q251 Mark

Which term is used to describe the surpluses which have been earned by a club over its lifetime?

Aaccumulated fund
Bcapital
Cretained earnings
Dsubscriptions

✓ Correct answer

A: accumulated fund

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About this question

Topic
The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2021 Paper 1 Variant 1, question 25.

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