Fill in the Blanks :(i) In statement of profit or loss, profit on sal

1.	Fill in the Blanks :(i) In statement of profit or loss, profit on sale of assets are _________ to closing capital.(ii) Bad debts are ___________ from closing capital in statement of profit or loss.(iii) __________ unscientific system of Bookkeeping.(iv) Under the Single Entry System, profit or loss is calculated by deducting the opening capital balance from __________ at the end of the year.
Answer» (i) Added (ii) Deducted (iii) Single Entry System (iv) the closing capital balance

Fill in the Blanks :(i) In statement of profit or loss, profit on sale of assets are ___ to closing capital.(ii) Bad debts are _ from closing capital in statement of profit or loss.(iii) unscientific system of Bookkeeping.(iv) Under the Single Entry System, profit or loss is calculated by deducting the opening capital balance from ____ at the end of the year.

Answer»

(i) Added

(ii) Deducted

(iii) Single Entry System

(iv) the closing capital balance