An entity's net profit may be calculated using the following:
A) Closing capital - drawings + capital introduced - opening capital
B) Closing capital + drawings - capital introduced - opening capital
C) Opening capital + drawings - capital introduced - closing capital
D) Opening capital - drawings + capital introduced - closing capital
Correct Answer:
Verified
Q1: If drawings exceed opening capital plus net
Q2: Owner's capital is:
A) Opening capital plus drawings
Q4: Which of the following best explains what
Q5: A business has a property worth £60,000,
Q6: Where does the following item appear in
Q7: Which of the following costs would be
Q8: Which of the following statements is not
Q9: Which of the following statements is correct?
A)
Q10: If opening capital is £10,000 and closing
Q11: If opening capital is £120,000, closing capital
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