Practice - Adjustments to Calculate Profit
Enroll to start learning
You’ve not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.
Practice Questions
Test your understanding with targeted questions
What is the formula to calculate Profit or Loss?
💡 Hint: Think about how changes in capital affect the profit calculation.
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.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What is needed to calculate profit from incomplete records?
💡 Hint: Consider what components affect the change in capital.
True or False: Adjustments for credit transactions are essential in calculating net profit.
💡 Hint: Think about how credit affects financial figures.
1 more question available
Challenge Problems
Push your limits with advanced challenges
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.
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.
Get performance evaluation
Reference links
Supplementary resources to enhance your learning experience.