In the preparation of statement of profit, if the opening capital is greater than closing capital, there will be?

By: |Published on: Jan 10|Categories: Accounting WAEC| 0 comments

A. profit
B. capital
C. loss
D. cash

Correct Answer: Option C

C. loss

Explanation

The difference between opening and closing capital will give either a profit or loss. If the opening capital is greater than closing capital then loss and vice versa.

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