A firm has assets worth Rs. 60,000 and capital Rs.45,000. Then its liabilities is

_________ capital can be found by preparing a statement of affairs at the beginning of the year.

Single Entry System is

Incomplete, records are those records which are not kept under

A statement of affairs resembles a

In ____ system, only personal and cash accounts are opened.

The excess of assets over liabilities is

Credit purchase can be ascertained as the balancing figure in the

Closing capital can be found by preparing a statement of affairs at the ___ of the year.

Incomplete records are generally used by