O-LevelAccountingThe fundamentals of accounting7707/12 · Oct/Nov 2025 · Q311 Mark

The assets of a business increased by $22 000 and its liabilities decreased by $6000 over a one-year period. During this period, the owner invested an additional $4000 of private funds into the business and withdrew $7000 for personal use. How much was the profit for the year?

A$13000

B$17000

C$19000

D$31000

✓ Correct answer

D: $31000

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Topic: The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2025 Paper 1 Variant 2, question 31.

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The assets of a business increased by $22 000 and its liabilities decreased by $6000 over a one-year period. During this period, the owner invested an additional $4000 of private funds into the business and withdrew $7000 for personal use. How much was the profit for the year?

✓ Correct answer

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