Paper 1 · Clubs and societies
A club's surplus of income over expenditure for a year is represented by
Athe balance on its Accumulated Fund at the beginning of the year.
Bthe decrease in the balance on its Receipts and Payments Account over the year.
Cthe increase in its net assets over the year.
Dthe increase in its liabilities over the year.
ZIMSEC Accounting 6001/1 Paper 1 (Multiple Choice), November 2022, Q14