Multiple Choice
If opening capital is £10,000 and closing capital is £13,000 then the movement can be explained by which of the following:
A) The entity made a loss of £2,000. The owner introduced £5,000
B) The entity made a profit of £2,000. The owner introduced £5,000
C) The entity made a loss of £1,000. The owner introduced £4,000 and withdrew £1,000.
D) The entity made a profit of £1,000. The owner introduced £5,000 and withdrew £1,000
Correct Answer:

Verified
Correct Answer:
Verified
Q6: If drawings exceed opening capital plus net
Q7: A business has a property worth £60,000,
Q8: If opening capital is £120,000, closing capital
Q9: Owner's capital is:<br>A) Opening capital plus drawings
Q10: Which of the following is regarded as
Q11: Which of the following is regarded as
Q12: Where does the following item appear in
Q13: A business has a motor vehicle worth
Q14: Which of the following costs would be
Q15: A business has a property worth £100,000,