Question

In case of non trading concern the excess of assets over liabilities is termed as _________. (Fill in the blank by choosing correct option)
a) surplus
b) deficit
c) capital fund
d) loan

Answer 1

SURPLUS....

IS THE ANSWER......

Answer 2

Answer:

The correct answer to the given question is option (a) Surplus.

Explanation:

The surplus is defined as an excess of something. Something available in more than the desired amount or need is called a surplus.

The opposite of surplus is a deficit. A deficit occurs when liabilities exceed the assets. It is defined as that condition when a commodity is present in less amount than it is needed.