A

Admin • 833.24K Points
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Q. Profit is calculated when:

  • (A) Assets = Liabilities
  • (B) Income > Expenses
  • (C) Capital = Cash
  • (D) Liabilities = Income
  • Correct Answer - Option(B)
  • Views: 24
  • Filed under category Accounting
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Explanation by: Admin

Profit results when income exceeds expenses.

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