When closing capital is more than opening capital it means
A) Profit
B) Loss
C) Withdrawal of capital
D) None of these
Correct Answer:
Verified
Q18: Under single entry system the main account
Q19: The system of keeping incomplete record is
Q20: In single entry system sales are computed
Q21: The single entry system cannot be adopted
Q22: The minimum share application money is
A)Rs.5 per
Q24: Which method is used under single entry
Q25: Credit purchase is determined by preparing
A)Purchase Account
B)Debtor's
Q26: Under Incomplete records only _ accounts are
Q27: Single entry system contains
A)All the relevant accounts
B)Only
Q28: Bill dishonored is shown in
A)Bills receivable account
B)Bills
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents