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Accounts (Principles of Accounts) · Accounts of not-for-profit organisations

Accounts (Principles of Accounts)Accounts of not-for-profit organisationsJAMB

A deficit in a club's income and expenditure account means that

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Answer: A. expenditure exceeded income

A surplus is the opposite.

An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.

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