1. A sole trader had opening capital of £10,000 and closing capital of £4,500. During the year the owner introduced capi
Posted: Wed Apr 27, 2022 10:42 am
- 1 A Sole Trader Had Opening Capital Of 10 000 And Closing Capital Of 4 500 During The Year The Owner Introduced Capi 1 (53.77 KiB) Viewed 41 times
1. A sole trader had opening capital of £10,000 and closing capital of £4,500. During the year the owner introduced capital of £4,000 and withdrew £8,000 for her own use. The profit or loss during the year was? A. £9,500 loss B. £1,500 loss C. £7,500 profit D. £17,500 profit 2. Which of the following best explains the meaning of the term 'capital expenditure'. Capital expenditure is money spent: A. On non-current assets, including repairs and maintenance B. On expensive assets C. Relating to the issue of share capital D. Relating to the acquisition or improvement of fixed assets