Maharashtra State BoardHSC Commerce 12th Board Exam
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Give the Word / Term Or Phrase Which Can Substitute the Following Statement. the Credit Balance of Trading Account. - Book Keeping and Accountancy

One Word Answer

Give the word / term or phrase which can substitute the following statement.

The credit balance of Trading Account.

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Solution

Gross Profits

Explanation: Credit balance of Trading Account implies gross profit earned as a result of the trading activities of the business. If the amount of sales exceeds the amount of purchases and expenses directly connected with such purchases, the difference is termed as gross profit, i.e. it shows credit balance of Trading Account.

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