- This topic has 3 replies, 2 voices, and was last updated 1 year ago by
.
Viewing 4 posts - 1 through 4 (of 4 total)
- Posts
A trader’s profit for the year may be computed by using which of the following formulae?
A Opening capital + drawings – capital introduced – closing inventory
B Closing capital + drawings – capital introduced – opening capital
C Opening capital – drawings + capital introduced – closing capital
D Opening capital – drawings +capital introduced – closing capitalHello Sir. The answer to this question is C but I chose B… I am rather confused because I thought the equation was: Opening Capital + Capital Introduced + Profit for the year – Drawings = Closing Capital
Assuming that you have copied the question correctly, then the answer is indeed B !!
I don’t know where you found the question, but the correct answer is not C.
Viewing 4 posts - 1 through 4 (of 4 total)
- The topic ‘Net Assets’ is closed to new replies.