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Write a word, term, or phrase which can substitute each of the following statement:i. A statement that is similar to the Balance Sheet.ii. The system of Accounting is normally suitable for small business organizations.iii. A statement similar to the Balance Sheet is prepared to find out the amount of opening capital.iv. An excess of assets over liabilities.v. Excess of closing capital over opening capital of proprietor under Single Entry System.vi. Name of the method of accounting suitable to firms having limited transactions.vii. A System of accounting that is unscientific.viii. Further capital introduced by the proprietor in the business concern over and above his existing capital. |
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Answer» i. Statement of Affairs ii. Single Entry System iii. Opening Statement of Affairs iv. Capital v. Profit vi. Single Entry System vii. Single Entry System viii. Additional Capital |
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