The capital sum which represents the difference between he asset and liabilities of a society or club is
Question 1 Report
The capital sum which represents the difference between he asset and liabilities of a society or club is
Answer Details
The capital sum which represents the difference between the assets and liabilities of a society or club is known as "accumulated fund". It is essentially the accumulated surplus generated by the society or club over time from its operations. The accumulated fund represents the retained earnings of the organization that have not been distributed as dividends or used for any other purpose. In other words, it is the portion of the organization's equity that has been accumulated over time and is available for reinvestment in the business or for use in meeting future contingencies. The accumulated fund is shown as a part of the equity or net worth of the organization in its balance sheet.
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