In the case of net worth method of single entry system, the net profit is ascertained by

Related MCQs

• In the case of net worth method of single entry system, the net profit is ascertained by
• Under the net worth method, the profit can be ascertained by preparing
• 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
• Net Profit under single entry system is equal to
• Which method is used under single entry system to find out the profit or loss?
• Profit under the net worth method, when there are no drawings and no additional capital is the difference between:
• Under______ system branch profit or loss is ascertained by preparing branch accounts
• Any gain on the sale of non-current assets should be _________ from the net profit and the loss must be _________to the net profit in determining fund from operation
• In single entry system profit is calculated as follows: