Question

Select the most appropriate answer the alternatives given below and rewrite the Sentence.
Under Single Entry System Opening Capital = Opening Assets Less _____________.

Options

• Closing Assets

• Opening Liabilities

• Opening Assets

• Closing Liabilities

Answer 1

Under Single Entry System Opening Capital = Opening Assets Less Opening Liabilities.

Explanation: Opening Capital is calculated by deducting the total opening liabilities from the total opening assets.