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प्रश्न
Net profit/loss is transferred from ______.
पर्याय
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 of the two sides of this account is either net profit or net loss.
- Net profit or net loss is transferred to the capital account.
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संबंधित प्रश्न
Select the most appropriate alternatives given below and rewrite the sentence :
Discount earned is transferred to credit side of ___________ account
Fill in the blank :
All indirect / operating expenses are transferred to ________ account.
Give a word, term or phrase which can substitute in 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.
Give a word, term or phrase which can substitute the following statement:
Account prepared to know Net Profit or Net Loss.
Abnormal Losses such as stock destroyed by fire, goods lost intransit, loss on sale of fixed assets are recorded on the ______ side of the ______.
Office rent, office lighting, office salaries, insurance, postage and telegrams, stationery and printing, audit fees, legal expenses are recorded on the ______ side of the ______.
In case, the total of the debit side is greater than the total of the credit side, the difference represents ______.
Where is gross profit or gross loss from the Trading Account recorded in the Profit and Loss Account?
What is the effect of depreciation on furniture and machinery in the Profit and Loss Account?
