Question

Select the correct answer.

Ralph buys an antique vase for $400 and sells the vase for $600. How does he enter the profit or loss in his account book?

A. -$200
B. +$200
C. +$400
D. +$600

Answer 1

The answer is B. +$200.

Explanation:

Because when Ralph purchased the vase for $400 and is selling them at a higher price for $600. The difference is $200. He has gained $200 as a profit for every vase that is sold.

Answer 2

The answer is B. +$200. Because when Ralph purchased the vase for $400 and is selling them at a higher price for $600. The difference is $200. He has gained $200 as a profit for every vase that is sold.