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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the formula to calculate Profit or Loss?
💡 Hint: Think about how changes in capital affect the profit calculation.
Question 2
Easy
If the opening capital is ₹30,000 and closing capital is ₹40,000, with no withdrawals or additional investments, what is the profit?
💡 Hint: Use the basic profit calculation formula.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is needed to calculate profit from incomplete records?
- Opening and closing capital only
- Withdrawals and additional investments
- Both A and B
💡 Hint: Consider what components affect the change in capital.
Question 2
True or False: Adjustments for credit transactions are essential in calculating net profit.
- True
- False
💡 Hint: Think about how credit affects financial figures.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company starts with ₹150,000 capital and ends with ₹185,000, has investments of ₹30,000 and withdrawals of ₹20,000. What is the profit, and how do unpaid expenses affect this calculation?
💡 Hint: Add any unpaid expenses to the adjustments to get the true profit.
Question 2
You find out a business excluded credit sales of ₹25,000. How might this change an originally calculated profit of ₹50,000?
💡 Hint: Think about how missed income affects overall numbers.
Challenge and get performance evaluation