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WAEC Agricultural Science 2005 Question 58

Question 58

Farm Management and Records

The main aim of preparing a farm income and expenditure statement is to

  1. A.record all purchases
  2. B.outline the sales of the farm
  3. C.outline both sales and purchases
  4. D.calculate profit or loss.
Show the answer and explanation

Answer: D (calculate profit or loss.)

Explanation

Comparing income with expenditure shows profit or loss.