Question: Indicate by choosing the correct option whether the following statement is true or false : When using a single-entry system, the profit/loss for a certain

Indicate by choosing the correct option whether the following statement is true or false:

When using a single-entry system, the profit/loss for a certain period can only be determined by means of a comparison of the capital at the beginning of the period with the capital at the end or the period after provision has been made for any additions to capital or withdrawals by the owner. An increase in capital may be regarded as a profit.

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