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Peter Has the Following Assets at Various Dates

Question 24

Multiple Choice

Peter has the following assets at various dates. He has no liabilities and earned no other income over this two-year period. Peter has the following assets at various dates. He has no liabilities and earned no other income over this two-year period. Which of these statements is correct? A) Peter's wealth increased by $10 000 over this two-year period. B) Peter's profit was $3000 for the year ended 31 December Year 3. C) Peter's wealth was $134 000 at 31 December Year 3. D) Peter's loss was $8000 for the year ended 31 December Year 2. Which of these statements is correct?


A) Peter's wealth increased by $10 000 over this two-year period.
B) Peter's profit was $3000 for the year ended 31 December Year 3.
C) Peter's wealth was $134 000 at 31 December Year 3.
D) Peter's loss was $8000 for the year ended 31 December Year 2.

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