Question

the profit earned by the company from the date of purchase to the date of incorporation is
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Answer 1

Answer:

When a newly formed Company takes over an existing business as a going concern as at date prior to the date of Incorporation then the Profit/Loss of the business, thus acquired, from the date of purchase to the date of Incorporation is called Profit/Loss Prior to Incorporation

Explanation:

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Answer 2

When a newly formed Company takes over an existing business as a going concern as at date prior to the date of Incorporation then the Profit/Loss of the business, thus acquired, from the date of purchase to the date of Incorporation is called Profit/Loss Prior to Incorporation.

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