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Under Single Entry System, the amount of opening stock can be ascertained by preparing a/an

ATotal Creditors Account

BMemorandum Trading Account

COpening Statement of Affairs

DNone of these

Answer:

B. Memorandum Trading Account

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_______ is prepared to know the trading results of a business.
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Fixed assets are recorded in the books at original cost :
_______ is used to record the day to day transaction daily