In the preparation of statement of profit, if the opening capital is greater than closing...
FINANCIAL
JAMB 2019
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: 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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