Multiple Choice Questions on In single entry system profit is calculated by ........ for Commerce ( 11 and 12th) Preparation

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Multiple Choice Questions

In single entry system profit is calculated by ........

Accountancy (11th) Chapter-11 Accounts from Incomplete Records
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    In single entry system profit is calculated by:

    Opening capital + Drawing – Fresh Capital – Closing Capital

    Incorrect Answer

    Closing capital + Drawing + Fresh Capital – Opening Capital

    Incorrect Answer

    Closing capital – Drawing + Fresh Capital – Opening Capital

    Incorrect Answer

    Closing capital + Drawing – Fresh Capital – Opening Capital

    Correct Answer
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    Explanation:

    Closing capital + Drawing – Fresh Capital – Opening Capital

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