Concept:The accumulated fund of a non-profit organization acts like its capital and belongs to the organization, not to the members personally.
Explanation:Surplus income of a non-profit organization is recorded in the accumulated fund.
This fund is similar to the capital of a profit-making business.
Under the business entity concept, the organization is treated as separate from its members or owners.
So the accumulated fund is the organization’s own fund, not the members’ personal fund.
Hence, the correct accounting concept is the business entity concept.
Answer:D. business entity concept