#1. The capital balance are ascertained by preparing ……….
#2. Under single entry system ,opening capital =opening assets less ………….
#3. Additional capital introduced during the year is …… from closing capital is order to find out the correct profit
#4. Generally incomplete records are maintained by ……..
#5. Statement of Profit shows …………..earned or …….. incurred.
#6. Under Single Entry Systems only
#7. Single Entry System may be useful for …………..
#8. In order to find out the correct profit, drawings is ……………. from closing capital.
#9. The difference between assets and liabilities is called …………..
#10. When closing capital is greater than the opening capital, the difference is …………
#11. Opening capital is ₹ 30,000 , closing capital is ₹ 60000 withdrawals are 5,000 and further capital brought in is 3,000 .profit is ………….
#12. Interest on drawings should be ……….. to capital to get net profit.
#13. If opening capital is ₹ 40,000, Closing Capital is ₹ 90,000 withdrawals is ₹ 5,000 and additional capital brought in is ₹ 10,000; profit is ₹ ………..
#14. Statement of Affairs shows ……………. and liabilities.
