Home › Bihar Board Class 12 (Commerce) › Accountancy › Accounts from Incomplete Records › If closing capital exceeds opening capital (no o…
If closing capital exceeds opening capital (no other changes), the business has made a:
ASmall loss
BBreak-even
CGross loss
DNet profit
Answer & Solution
Correct answer: D. Net profit
A rise in the owner's capital over the year means the business earned a profit.
Related questions
Under single entry, information is mostly collected from the:Under single entry, some transactions are even:The Kohler definition describes single entry as always being:Under the statement of affairs method, closing stock is found from:A single-entry system is not self-balancing, so arithmetic errors are:Single-entry systems are popular with small businesses because of their:Bills payable of Rs 3,000 were pending; Rs 9,000 more were accepted and Rs 2,000 remain. PA firm held Rs 5,000 of bills receivable, got Rs 12,000 more and holds Rs 4,000 at year en