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Teaching Accountancy Accounting for Specific Business and Transactions Question Bank MCQ - Accounting for Specific Business and Transactions

  • question_answer
    In single entry system profit is calculate as follow

    A)  Opening Capital + Drawing + Fresh Capital - Ending capital

    B)  Capital at the end - Drawing - Fresh capital - Opening capital

    C)  Capital at the end + Drawing - Fresh capital - Opening capital

    D)  None of the above

    Correct Answer: C

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