passwella.
Menu

WAEC Financial Accounting 1999 Question 33

Question 33

Final Accounts of a Sole Trader

The purpose of the Trading Account is to ascertain

  1. A.carriage outwards
  2. B.gross profit
  3. C.distribution expenses
  4. D.net profit.
Show the answer and explanation

Answer: B (gross profit)

Explanation

The trading account works out gross profit.