Question: 1. A balance sheet is designed to show: a. The financial position of an enterprise under accounting ocnventions. b. What the enterprise could be sold

1. A balance sheet is designed to show: a. The financial position of an enterprise under accounting ocnventions. b. What the enterprise could be sold for. C. The performance of the enterprise for a year d. What it would cost to set up a similar enterprise 2. An enterprise's profit for the year may be computed by using which of the following formulae? a. Opening capital + drawings - capital introduced - closing capital. b. Closing capital + drawings - capital introduced - opening capital

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