Multiple Choice
If opening capital is Rs.10,000 & closing capital is Rs.15,000 then profit or loss:
A) Loss of Rs.5,000
B) Profit of Rs.2,500
C) Profit of Rs.5,000
D) None of these
Correct Answer:

Verified
Correct Answer:
Verified
Q4: Single entry system contains<br>A)All the relevant accounts<br>B)Only
Q5: When closing capital is less than opening
Q6: In absence of LLP agreement the mutual
Q7: Businessmen may intentionally not maintain proper accounts<br>A)to
Q8: If Building (closing) Rs.100,000, Land (opening) Rs.
Q10: Prepaid expenses are shown under<br>A)Loans and advances
Q11: _is a person who is designated as
Q12: In single entry system profit is calculated
Q13: Amalgamation adjustment reserve is opened in the
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