Under the net worth method, the profit can be ascertained by preparing
A) Profit and loss account
B) Cash account
C) Statement of Affairs
D) Statement of Profit
Correct Answer:
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Q9: The amount of credit sale is ascertained
Q10: The capital at the beginning of the
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
Q15: The closing capital can be ascertained by
Q16: Profit under the net worth method, when
Q17: To ascertain the real profit, the difference
Q18: Under single entry system the main account
Q19: The system of keeping incomplete record is
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