Practice - Adjustments to Calculate Profit
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.
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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.
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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.
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