Under single Entry system, Profit = Closing Capital less __________
(a) Opening Capital
(b) Opening Assets
(c) Opening Liabilities
(d) Drawings
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From the following data, calcualte value added by firm X and by firm Y: (i) Closing stock of firm X 20 (ii) Closing stock of firm Y 15 (iii) Opening s
VA by X=v+i-iv-vi-ix =300+20-5-100-50 =rs 165 lakh V.A. by `Y=viii+ii-iii-vii` `=250+15-10-80` =rs 175lakh
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How is closing capital calculated under a single entry system?
Under single entry system closing capital is calculated by deducting the total closing value of liabilities from the total closing value of assets.
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(i) Excess of opening capital over closing capital of proprietor under single entry system.
(i) Loss (ii) Single Entry System (iii) Statement of Profit or Loss (iv) Single Entry System (v) Single Entry System
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A statement of __________ is to be prepared in under to find out profit or loss under a single entry system.
Correct option is (d) Profit or Loss
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If closing capital is ₹ 30,000 and profit is ₹ 5,000 opening capital was __________
Correct option is (c) ₹ 25,000
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Under Single Entry System only ________ are opened.
Correct option is (a) Cash and Personal Accounts
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Drawings made during the year decrease the profit under the Single Entry System.
This statement is False. Drawings made during the year are added to the closing capital in the statement of profit, it increases the profit under the Single Entry System.
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(i) In statement of profit or loss, profit on sale of assets are _________ to closing capital.
(i) Added (ii) Deducted (iii) Single Entry System (iv) the closing capital balance
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10. Lymph differs from blood in possessing (1) More proteins and less waste products (2) Less proteins and more waste products (3) More proteins and more waste products (4) Less proteins and less waste products
(2) Less proteins and more waste products
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Cyberlaw is the part of the overall legal system that deals with the __________, __________, and their respective __________
(B) Internet, (C) Cyberspace, (D) Legal Issues
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