Analysis of the cloth merchant who is maintaining his books of accounts under single entry system?
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I got a chance recently, to visit a cloth merchant staying at my nearby locality shop.
In this case it has been told that the cloth merchant has been maintaining his book of accounts under single entry system.
The statement of affair represents about the assets and capabilities of a company hence explaining about the total records.
Apart from this, one can also acquire information from newt book value as well as matters of insolvency.
Hence it is ideal to understands about the losses incurred in that financial year as well as then profits made in business.
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