What change does profit makes to capital?
Profit gets reduced from capital
Profit gets added to the capital
Profit has no change to capital
All of these
Profit gets added to the capital of the partners at the end of the financial year.
If opening capital is less than closing capital, it shows:
(a) Loss
(b) Profit
(c) No Profit; No Loss.
(d) Profit, if no additional capital is introduced.
The revaluation profit is ____ to the capital accounts of all partners.
Does capital expenditure affect profit?