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WASSCE
Use the following information to answer questions 33 and 34.
| 01/01/2016 | 31/12/2016 | |
| Trade debtors | 80 000 | 100 000 |
| Trade creditors | 30 000 | 40 000 |
| Stock | 70 000 | 90 000 |
| Cheques received from trade | |
| debtors in 2016 | : D 350 000 |
| Payments made to trade creditors in 2016 | : D 220 000 |
The excess of assets over liabilities of a not-for-profit making organization is
A.
surplus
B.
deficit
C.
working capital
D.
accumulated fund
Answer: D
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