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Pls answer the questions with your detailed explanations, it's much appreciated! .6 A business can make a profit and yet have a reduction in its
Pls answer the questions with your detailed explanations, it's much appreciated!
.6 A business can make a profit and yet have a reduction in its bank balance. Which of the following might cause this to happen? The sale of non-current assets at a loss The charging of depreciation in the statement of profit or loss The lengthening of the period of credit given to customers The lengthening of the period of credit taken from suppliers (2 marks) The net assets of Altese, a trader, at 1 January 202 amounted to $128,000. During the year to 31 December 20X2 Altese introduced a further $50,000 of capital and made drawings of $48,000. At 31 December 20X2 Altese's net assets totalled $184,000. What is Altese's total profit or loss for the year ended 31 December 20X2? $54,000 profit $54,000 loss $42,000 loss $58,000 profit (2 marks)Step by Step Solution
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