Solved

In Single Entry System Profit Is Calculated as Follows

Question 14

Multiple Choice

In single entry system profit is calculated as follows:


A) Opening Capital + Drawing + Fresh Capital- Ending capital
B) Capital at the end - Drawing - Fresh capital - Opening capital
C) Capital at the end + Drawing - Fresh capital -Opening capital
D) None of the above

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q9: Net worth of an organization means the

Q10: Single Entry system is must suited where:<br>A)Cash

Q11: Equity shares cannot be issued for the

Q12: In Single entry system, it is not

Q13: In single entry system only accounts are

Q15: A Single entry system is usually adopted

Q16: Company has ……………<br>A)Separate Legal Entity<br>B)Perpetual Existence<br>C)Limited Liability<br>D)All

Q17: Capital can be obtained by preparing:<br>A)Cash book<br>B)Statement

Q18: A Statement of assets and liabilities prepared

Q19: Bad -debts written off always affect the:<br>A)Debtors