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In a situation of incomplete records, profit is determined as 

Accounts - Principles of Accounts
WAEC 2020

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
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Correct Answer: Option C
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post UTME Past Questions Agent