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प्रश्न
Answer in one sentence only.
How Opening Capital is calculated under Single Entry System?
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उत्तर
In a statement of affairs, when the total of the assets side is greater than the total of liabilities side, then difference of amount is known as ‘Opening Capital’.
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संबंधित प्रश्न
Answer in one sentence only.
Which type of accounts are maintained under Single Entry System?
Answer in one sentence only.
Can a Trial Balance be prepared under Single Entry System?
Write a word, term, or phrase which can substitute the following statement.
Name of method of accounting suitable to firms to having limited transactions.
Write a word, term, or phrase which can substitute the following statement.
A System of accounting which is unscientific.
State True or False with reasons:
Preparation of Trial Balance is not possible under Single Entry System
Do you agree with the following statement?
Interest on Drawings decreases the amount of profit under Single Entry System.
Do you agree with the following statement?
Single Entry System is based on certain rules and principles
Do you agree with the following statement?
Statement of Profit is just like Profit and Loss Account.
Fill in the blank:
Single Entity System is suitable for ________business.
Mr. Poonawala keeps his books under the Single Entry System and gives the following information.
Capital as of 31.3.2017 – ₹ 60,000
Capital as on 31.3.2018 – ₹ 1,00,000
Drawings made during the year ₹ 2,000
Additional capital introduced during the year ₹ 12,000
Calculate Profit or Loss during the year.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
