In single entry system profit is calculated by:

Related MCQs

• In single entry system profit is calculated as follows:
• The statement of profit or loss is prepared according to _______ method to calculate profit or loss under single entry system
• A B C are three partners sharing profit and loss in the ration of 2:2:1, B recently obtained MBA degree from Oxford University, accordingly the partner decided to give him a guaranteed profit of ` 60,000. Find the share of profit of B if the firm made a net profit of ` 1,25,000 during 2012-13
• In the case of net worth method of single entry system, the net profit is ascertained by
• Under single entry system , drawings is _____ to know gross profit
• In the case of net worth method of single entry system, the net profit is ascertained by
• Which method is used under single entry system to find out the profit or loss?
• Net Profit under single entry system is equal to
• Procedure of conversion of Single entry books into Double entry
• Single entry system of book keeping system