In single entry and incomplete records, the net assets method used to ascertain profit is
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- A Net asset at the end of a period - net assets at the begining of a period = profit + additional capital - drawings
- B Net asset at the end of a period - net asset at the beginig of a period = profit - additional capital - drawings
- C Net asset at the end of a period - net asset at the begining of a period - drawings
- D Net asset at the end of a period + additional capital - drawings
Correct Answer: Option A
Explanation:
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