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प्रश्न
Office rent, office lighting, office salaries, insurance, postage and telegrams, stationery and printing, audit fees, legal expenses are recorded on the ______ side of the ______.
पर्याय
Debit, trading account
Credit, trading account
Debit, profit and loss account
Credit, profit and loss account
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उत्तर
Office rent, office lighting, office salaries, insurance, postage and telegrams, stationery and printing, audit fees, legal expenses are recorded on the Debit side of the profit and loss account.
Explanation:
Office and Administrative expenses such as Rent, Rates and Taxes, Office Salaries, Printing and Stationery, Office Lighting, Postage and Telegrams, etc. are debited to the profit and loss account.
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संबंधित प्रश्न
Answer in One Sentence:
What do you mean by Profit & Loss A/c?
Answer in One Sentence:
What is Net Profit?
Answer in One Sentence:
What do you mean by Prepaid Expenses?
State True or False with reasons:
Credit balance of Profit and Loss account shows net profit.
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.
Give a word, term or phrase which can substitute the following statement:
Account prepared to know Net Profit or Net Loss.
Explain the needs of Profit and Loss Account.
Which of the following is NOT recorded in the Profit and Loss Account?
What is the effect of depreciation on furniture and machinery in the Profit and Loss Account?
