Categories: Accounting WAEC

In a situation of incomplete records; profit is determined as?

A. closing capital drawings opening capital
B. closing capital- drawings-opening capital
C. closing capital drawings – opening capital
D. closing capital drawings + opening capital

Correct Answer:

Option C = closing capital drawings – opening capital

Sunday

Recent Posts

GNS 322 Theory Questions: The Evolution of Women’s Roles in Nigerian Society

300 Level Department of Social Science And Humanities exam questions and detailed answers. Download the answers…

7 hours ago

GNS 322 Theory Questions: Advantages of Large and Small Family Units

300 Level Department of Social Science And Humanities exam questions and detailed answers. Download the answers…

7 hours ago

GNS 322 Theory Questions: The Evolving Roles of Women in Modern Society

300 Level Department of Social Science And Humanities exam questions and detailed answers. Download the answers…

7 hours ago

GNS 322 Theory Questions: The Family as a Fundamental Social Institution and Nigerian Child-Rearing Attitudes

300 Level Department of Social Science And Humanities exam questions and detailed answers. Download the answers…

10 hours ago

GNS 322 Theory Questions: Concepts of Marriage, Family, and Kinship

300 Level Department of Social Science And Humanities exam questions and detailed answers. Download the answers…

11 hours ago

GNS 322 Theory Questions: Family Planning: Social Reactions, Advantages, Methods and Medical Roles

300 Level Department of Social Science And Humanities exam questions and detailed answers. Download the answers…

11 hours ago