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Fill in the blank :An excess of debit over credit in the Profit and Loss A/c represents the __________. - Book Keeping and Accountancy

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Fill in the Blanks

Fill in the blank :
An excess of debit over credit in the Profit & Loss A/c represents the __________.

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Solution

An excess of debit over credit in the Profit and Loss A/c represents the net loss.

Concept: Profit and Loss Account
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APPEARS IN

Balbharati Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board
Chapter 9 Final Accounts of a Proprietary Concern
Exercises | Q 5. 8) | Page 317
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