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प्रश्न
The difference of the two sides of this account is either net profit or net loss.
विकल्प
Trading Account
Profit and loss account
Balance sheet
Manufacturing account
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उत्तर
Profit and loss account
Explanation:
Profit and Loss Account is the account which is prepared to calculate the net profit or net loss of the business for a given accounting period.
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संबंधित प्रश्न
Fill in the blank :
Interest on Bank Loan is debited to _________ A/c
What is the need for preparing profit and loss account?
Correct and Rewrite the following statements:
When the credit side of the Profit and Loss Account is greater than the debit side, it is called Net Loss.
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.
Storage expenses, carriage outwards, salaries of sales staff are recorded on the ______ side of the ______.
Carriage outwards are recorded the ______ side of the ______.
In case, the total of the debit side is greater than the total of the credit side, the difference represents ______.
Which account type does the Profit and Loss Account belong to?
The “Packing expenses” are classified in the Profit and Loss Account when they are:
