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Need for Analysis of Financial Information

Select the mo...

Question

Select the most appropriate answer the alternatives given below and rewrite the Sentences.

Under Single Entry System Opening Capital = Opening Assets Less _____________.
a) Closing Assets
b) Opening Liabilities
c) Opening Assets
d) Closing Liabilities

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Solution

Under Single Entry System Opening Capital = Opening Assets Less Opening Liabilities.

Explanation: Opening Capital is calculated by deducting the total opening liabilities from the total opening assets.

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