i. Further capital introduced during the year increases profit. ii. Interest in Drawings decreases the amount of profit
Do you agree with the following statements?
i. Further capital introduced during the year increases profit.
ii. Interest in Drawings decreases the amount of profit under the Single Entry System.
iii. Real and Nominal accounts are not maintained under the Single Entry System.
iv. The single Entry System is based on certain rules and principles.
v. Statement of Profit is just like Profit and Loss Account.
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