The term Accumulated Funds means the same asThe term Accumulated Funds means the same as? * • Amounts gained as surplus for the year The net amount for the owners' equity Excessive cash at the end of the year • Funds reserved for future business useAnswer & ExplanationThe term "Ac...
The term Accumulated Funds means the same as? * • Amounts gained as
surplus for the year The net amount for the owners' equity Excessive cash at the
end of the year • Funds reserved for future business use
Answer & Explanation
The term "Accumulated Funds" is most closely related to "Funds reserved for
future business use".
Accumulated funds refer to the total capital that a company or organization has
generated over time and has set aside for future use. These funds can be
generated through profits, donations, or any other sources of income. They are
typically used for future investments, expansion, or to cover unexpected costs.
Here's a step-by-step explanation:
1. A company or organization generates income through its operations,
donations, or other sources.
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