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Summary The term Accumulated Funds means the same as? * • Amounts gained as surplus for the y

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2024/2025 Written for academic year
Institution Ashford University
Course ACC 205
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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 "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.2.After covering all the expenses, the remaining amount is considered as profit or surplus.3.Instead of distributing this surplus

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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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