Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Accounting and Auditing Basic accounting principles

Which one of the following is a correct equation?

1
Opening capital = Closing capital + Additional capital - Drawings - Profit
2
Opening capital = Closing capital + Drawings - Additional capital - Losses
3
Opening capital = Closing capital + Drawings - Additional capital - Profit
4
Opening capital = Closing capital - Drawings - Additional capital - Profit
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