passwella.
Menu

WAEC Financial Accounting 2006 Question 30

Question 30

Incomplete Records

In a system of incomplete records, the opening capital is determined by preparing

  1. A.statement of affairs
  2. B.balance sheet
  3. C.cash book
  4. D.trial balance.
Show the answer and explanation

Answer: A (statement of affairs)

Explanation

Opening capital comes from a statement of affairs.