Question on: SS2 Accounting - Computation of Profits From Two Balance Sheets Showing The Opening And Closing Capital
What is the difference between accounting profit and cash profit?
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A
Accounting profit considers cash inflows and outflows during the year, while cash profit does not.
B
Cash profit considers cash inflows and outflows during the year while accounting profit does not.
C
There is no difference between accounting profit and cash profit.
D
None of the above
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Correct Option: B
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