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प्रश्न
Net profit/loss is transferred from ______.
विकल्प
Trading account
Profit and Loss account
Balance sheet
Manufacturing account
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उत्तर
Net profit/loss is transferred from Profit and Loss account.
Explanation:
- The profit and Loss account is prepared to calculate the business’s net profit or net loss for a given accounting period.
- The difference between the two sides of this account is either a net profit or a net loss.
- Net profit or net loss is transferred to the capital account.
APPEARS IN
संबंधित प्रश्न
Answer in One Sentence:
What do you mean by Prepaid Expenses?
Fill in the blank :
Profit and Loss account is prepared to find out ___________ results of the business.
Find the odd one:
Rent, Salary, Insurance, Plant and Machinery
Find the odd one :
What is the need for preparing profit and loss account?
Correct and Rewrite the following statement:
Capital A/c……………..Dr.
To Profit and Loss Account
(Being Net Profit transferred to Capital A/c)
Give a word, term or phrase which can substitute the following statement:
Account prepared to know Net Profit or Net Loss.
What is the purpose of a Profit and Loss Account?
Which of the following is NOT recorded in the Profit and Loss Account?
What happens to the net profit shown by the Profit and Loss Account in a sole proprietorship?
