Accounting 0452 · IGCSE · Sole traders

Sole traders — practice question

Across a one-year period, a business’s assets rose by $22\,000$ while its liabilities fell by $6000$. In that same period, the owner added a further $4000$ of private funds to the business and removed $7000$ for personal use. What was the profit for the year?

  • A$13\,000
  • B$17\,000
  • C$19\,000
  • D$31\,000

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI