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WAEC Financial Accounting 2010 Question 10

Question 10

Accounting Equation

Which of the following is added to the proprietor's capital?

  1. A.Net profit
  2. B.Gross profit
  3. C.Net sales
  4. D.Gross sales
Show the answer and explanation

Answer: A (Net profit)

Explanation

Net profit belongs to the owner and increases capital.