Accounting Multiple Choice Question – 2 March 2023

A business does not keep complete accounting records. The following information is known:

• capital at start of year – £52,000
• capital at end of year – £55,000
• owner’s drawings in year – £13,000
• capital introduced during the year – £25,000

What is the net profit/loss for the year?

Select ONE answer:

1. net loss £9,000
2. net profit £9,000
3. net loss £15,000
4. net profit £15,000

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

1. Correct – £52 + £25 – £13 – £55 = £9k loss
2. Not correct
3. Not correct
4. Not correct

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