WAEC Agricultural Science 1997 Question 58

Question 58

Farm Management and Records

The difference between the total assets and total liabilities of a farm enterprise within a specified period before taxation is known as

  1. A.net profit
  2. B.liability
  3. C.current asset
  4. D.gross profit
  5. E.networth
Show the answer and explanation

Answer: E (networth)

Explanation

Assets minus liabilities is net worth.