In case of net worth method of single entry system profit is ascertained by
A. Comparing the capital in the beginning of the accounting period and the capital at the end of the accounting period
B. Preparing profit and loss account
C. Preparing a balance sheet
D. Representative Personal Account
Answer:A
In case of net worth method of single entry system profit is ascertained by
A. Comparing the capital in the beginning of the accounting period and the capital at the end of the accounting period B. Preparing profit and loss account C. Preparing a balance sheet D. Representative Personal Account