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O-LevelAccountingThe fundamentals of accounting7707/13 · Oct/Nov 2021 · Q271 Mark

Beth provided the following information. net assets 1 January $28.000 31 December $24000 Her drawings during the year amounted to $3000. What was Beth's profit or loss for the year?

A$1000 loss
B$1000 profit
C$7000 loss
D$7000 profit

✓ Correct answer

A: $1000 loss

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About this question

Topic
The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, Oct/Nov 2021 Paper 1 Variant 3, question 27.

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