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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 ______.
पर्याय
Net profit
Net loss
Gross profit
Gross loss
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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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संबंधित प्रश्न
Give a word, term, or phrase which can substitute the following statement:
Income due but not yet received
Give a word, term, or phrase which can substitute the following statement:
Carriage paid on sale of goods.
Give a word, term, or phrase which can substitute the following statement:
Account prepared to know Net Profit or 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.
Give a word, term or phrase which can substitute the following statement:
Account prepared to know Net Profit or Net Loss.
Net profit/loss is transferred from ______.
Office rent, office lighting, office salaries, insurance, postage and telegrams, stationery and printing, audit fees, legal expenses are recorded on the ______ side of the ______.
Distinguish between a Trading Account and a Profit and Loss Account.
Explain the needs of the Profit and Loss Account.
