Gamji Memorial Club carried out an activity which yield a profit of N10 000. This…

Gamji Memorial Club carried out an activity which yield a profit of N10 000. This amount is to be transferred to the?
  • A.
    debit side of its profit and loss account
  • B.
    credit side of its profit and loss account
  • C.
    debit side of its income and expenditure account
  • D.
    credit side of its income and expenditure account
Correct Answer: Option D
Explanation
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