Multiple Choice
The opening capital of Overdrive Ltd at 1st January was £31,000.At 31st December the capital figure was £45,000.How much profit had been earned?
A) It is not possible to tell from the information provided
B) £14,000
C) (£14,000)
D) £45,000
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q9: The assets and liabilities of Bon
Q10: Tom's bank statements show he had an
Q11: Debits are increases to liabilities and revenues
Q12: At the beginning of the financial year,trade
Q13: Incomplete records can,with some additional information,be converted
Q15: At the end of the year,NewBiscuit company
Q16: At the end of the year,Terraplane company
Q17: At the beginning of the financial year,trade
Q18: Assets = Liabilities - Capital
Q19: Debits are increases to assets and expenses