The capital at the beginning of the accounting year in case of single entry system is determined by opening
A) Opening statement of affairs
B) Cash account
C) Bank account
D) None of the above
Correct Answer:
Verified
Q5: Under single entry system, only personal accounts
Q6: Statement of affairs is prepared for ascertaining:
A)Financial
Q7: From incomplete records, it is possible to
Q8: Single entry can be adopted by :
A)Small
Q9: The amount of credit sale is ascertained
Q11: Single entry book-keeping means
A)Incomplete records
B)Loose and defective
Q12: Statement of Affairs is a statement of
A)Statement
Q13: Procedure of conversion of Single entry books
Q14: Under the net worth method, the profit
Q15: The closing capital can be ascertained by
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