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The capital of a sole trader changes as a result of

Accounts - Principles of Accounts
JAMB 2025

The capital of a sole trader changes as a result of

  • A. drawings by cheque
  • B. equipment purchased by cheque
  • C. paying wages by cash
  • D. goods purchase by cheque
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Correct Answer: Option A
Explanation

The capital of a sole trader changes when the owner makes drawings by cheque. Drawings are withdrawals for personal use, and they reduce the owner’s capital in the business.

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