O-LevelAccountingPreparation of financial statements7707/11 · Oct/Nov 2015 · Q141 Mark
How is the profit for the year calculated?
Agross profit + other income + expenses
Bgross profit + other income – expenses
Cgross profit – other income + expenses
Dgross profit – other income – expenses
✓ Correct answer
B: gross profit + other income – expenses
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