Accounting WAEC

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

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.

Sunday

Recent Posts

OOU JUPEB Admission For Agricultural Extension

Do you want to study Agricultural Extension in OOU? Before you apply for the OOU…

12 months ago

OOU JUPEB Admission For Agricultural Economics

Do you want to study Agricultural Economics in OOU? Before you apply for the OOU…

12 months ago

OOU JUPEB Admission For Cooperative and Business Management

Do you want to study Cooperative and Business Management in OOU? Before you apply for…

12 months ago

OOU JUPEB Admission For Home and Hotel Management

Do you want to study Home and Hotel Management in OOU? Before you apply for…

12 months ago

OOU JUPEB Admission For Animal Production

Do you want to study Animal Production in OOU? Before you apply for the OOU…

12 months ago

OOU JUPEB Admission For Crop Production

Do you want to study Crop Production in OOU? Before you apply for the OOU…

12 months ago