Question 27

In single entry and incomplete records, the net assets method used to ascertain profit is

  • A.net asset at the end of a period - net assets at the begining of a period = profit + additional capital - drawings
  • B.net asset at the end of a period - net asset at the beginig of a period = profit - additional capital - drawings
  • C.net asset at the end of a period - net asset at the begining of a period - drawings
  • D.net asset at the end of a period + additional capital - drawings
Objective

Question details

Exam body
WAEC
Subject
Accounts - principles of accounts
Year
2007
Question no.
#27
Type
Objective

More from this paper

See all Accounts - principles of accounts 2007 questions