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GCE Accounting 2023 Objective — Question 46

Question 46 of 50 from the General Certificate of Education (GCE) Accounting 2023 Objective paper, with the correct answer and a full explanation.

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Using the same capital account information, the net profit for 2020 is (a) Le595,400 (b) Le522,900 (c) Le417,900 (d) Le72,000

  • A. Le595,400
  • B. Le522,900
  • C. Le417,900
  • D. Le72,000Correct

Explanation

Net profit = Gross profit - Expenses = 417,900 - 345,900 = Le72,000.

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