Accounting 9706 · AS & A Level · The accounting system

The accounting system — practice question

The profit for a company for the year is $20000. Capital income of $5000 has been classified as revenue income. Capital expenditure of $4000 has been classified as revenue expenditure. What should the correct profit for the year be?

  • A$11000
  • B$19000
  • C$21000
  • D$29000

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