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accounts from i...

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  • Question 1
    1 / -0

    Profit is calculated by the formula

  • Question 2
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    A statement of assets and liabilities prepared under the single entry system is called

  • Question 3
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    Which of the following is not a feature of system of single entry system

  • Question 4
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    Net worth of an organization means the excess of its total assets over total:

  • Question 5
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    Bad-debts written off always affect the:

  • Question 6
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    If closing owner’s equity is Rs 1,000; opening owner’s equity is Rs. 500; profit is Rs 700, then there must be a ___________ of Rs 200 during the year

  • Question 7
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    This system of accounting is not reliable because

  • Question 8
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    Commission received in advance is to be shown in statement of affairs on

  • Question 9
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    A statement of affairs shows only the _____ financial position of the business

  • Question 10
    1 / -0

    A limited company cannot maintain its accounts under Single entry system because

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