Why opening statement of affairs is prepared?
A) To find out Profit/Loss
B) To find out Cash
C) To find out assets
D) To find out opening balance of capital
Correct Answer:
Verified
Q4: Effect of dishonour of B/R is given
A)Only
Q5: Creditors account is prepared to find out
Q6: Which account is to be prepared to
Q7: Bad Debt Return is to be credited
Q8: Generally, depreciation on fixed assets is calculated
Q10: Total amount payable less its cash price
Q11: Dipti has purchased one Machine on hire
Q12: At the end of the year, the
Q13: Paid Rs. 7000 at the time of
Q14: Interest is calculated on_ under hire purchase agreement.
A)Cash
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