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Single Entry System — Book Keeping & Accountancy STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsBook Keeping & AccountancySingle Entry System1 Mark
Question
How is closing capital calculated under a single entry system?
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Answer

Under single entry system closing capital is calculated by deducting the total closing value of liabilities from the total closing value of assets.

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