हिंदी

In case, the total of the debit side is greater than the total of the credit side, the difference represents ______.

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प्रश्न

In case, the total of the debit side is greater than the total of the credit side, the difference represents ______.

विकल्प

  • Net profit

  • Net loss

  • Gross profit

  • Gross loss

MCQ
रिक्त स्थान भरें
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उत्तर

In case, the total of the debit side is greater than the total of the credit side, the difference represents Net loss.

Explanation:

In the world of accounting, Profit and Loss accounts have a debit balance when the debit side exceeds the credit side such a balance is called Net loss.

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अध्याय 7: Final Accounts of Sole Proprietorship - EXERCISES [पृष्ठ ११७]

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गोयल ब्रदर्स प्रकाशन Commercial Studies [English] Class 10 ICSE
अध्याय 7 Final Accounts of Sole Proprietorship
EXERCISES | Q 18. | पृष्ठ ११७

संबंधित प्रश्न

Give a word, term, or phrase which can substitute the following statement:
 Carriage paid on sale of goods.


What is the need for preparing profit and loss account?


Give a word, term or phrase which can substitute  of the following statement:

Account prepared to know Net Profit or Net Loss.


Give a word, term or phrase which can substitute in the following statement:

Account prepared to know Net Profit or Net Loss.


Given below is the Trial Balance of M/s. Krishna & Sons Pvt. Ltd. as on 31st March, 2023. Prepare a Trading and  Profit and Loss account for the year ending 31st March, 2023 and a Balance Sheet as on the same date.

Trial Balance of M/s. Krishna & Sons Pvt Ltd. as on 31st March 2023.

Particulars Dr. Cr.
Capital - 50,000
Drawings 1,000 -
Debtors and Creditors 25,000 15,000
Loan - 20,000
Discounts 4,750 300
Purchases and Sales 90,000 1,72,000
Land and Buildings 88,000 -
Salaries 33,000 -
Cash in hand 2,700 -
Stock as on 01-04-2022 28,000 -
Commission Received - 18,550
Sales Return and Purchase Return 750 550
Carriage inward 1,200 -
Bills receivable and Bills payable 7,500 5,500
Total 2,81,900 2,81,900

Closing Stock was valued at ₹ 25,000


Carriage outwards are recorded the ______ side of the ______.


Explain the needs of the Profit and Loss Account.


Which account type does the Profit and Loss Account belong to?


Which of these expenses would typically NOT appear on the debit side of the Profit and Loss Account?


Which of the following is added to bad debts while preparing the Profit and Loss Account?


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