Home » Accounts (Principles of Accounts) » Where a firm has not kept proper books of account, an increase in closing capital…Where a firm has not kept proper books of account, an increase in closing capital… Where a firm has not kept proper books of account, an increase in closing capital over opening capital represents A. profit B. loss C. prepayments D. cash balance Correct Answer: Option A Explanation Related Posts In the consignee’s record account, the accounting treatment of expenses paid for on behalf of… Use the information below to this question Cost of raw materials consumed 300,600 Carriage inwards… Purchase of goods of N2,000 was treated as sales and entered in the sales day… The amount set aside out of profit for a specific purpose is The amount for which a business is sold is known as Capital reserves includes the following except
