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Question
Find the odd one :
Options
Interest on Drawings
Outstanding Expenses
Undervaluation of Assets
Prepaid Expenses
Solution
Outstanding Expenses
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RELATED QUESTIONS
Write a word, term, or phrase which can substitute the following statement.
An excess of assets over liabilities.
Write a word, term, or phrase which can substitute the following statement.
Excess of closing capital over opening capital of proprietor under Single Entry System.
Write a word, term, or phrase which can substitute the following statement.
Further capital introduced by the proprietor in the business concern over and above his existing capital.
Select the most appropriate answer from the alternatives given below and rewrite the sentence.
Additional Capital introduced during the year is __________ from closing capital in order to find out the correct profit
Select the most appropriate answer from the alternatives given below and rewrite the sentence.
In order to find out the correct profit, drawings is __________ from closing capital
Select the most appropriate answer from the alternatives given below and rewrite the sentence.
Opening Capital is ₹ 30,000; Closing Capital is ₹ 60,000; Withdrawals are ₹ 5,000; and further capital brought in is ₹ 3,000; Profit is _______.
State True or False with reasons:
Only Cash and Personal accounts are maintained under Single Entry System.
Do you agree with the following statement?
Further capital introduced during the year increases profit.
Fill in the blank:
The difference between Assets and Liabilities is called _______.
Fill in the blank:
Additional Capital introduced during the year is __________ from Closing Capital in order to find out the correct profit.
Find the odd one :
Find the odd one :
| Closing Capital | Drawings | Adjusted Closing Capital | Opening Capital | Profit | ||||
| ? | + | ₹ 15,000 | = | ₹ 40,000 | - | ₹ 20,000 | = | ? |
| Cash in Hand | Cash at Bank | Sundry Debtors | Bills Payable | Capital | ||||
| ₹ 10,000 | + | ₹ 5,000 | = | ₹ 8,000 | - | ₹ 4,000 | = | ? |
Do you agree with the following statements?
Interest on Drawings decreases the amount of profit under Single Entry System.
