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Select the most appropriate alternatives given below and rewrite the sentence :Interest on Drawing is credited to __________ Account. - Book Keeping and Accountancy

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MCQ

Select the most appropriate alternatives given below and rewrite the sentence :
Interest on Drawing is credited to __________ Account.

Options

  • Trading

  • Profit & Loss

  • Profit & Loss A/c

  • Balance Sheet

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Solution

Interest on Drawing is credited to Profit and Loss Account.

Concept: Profit and Loss Account
  Is there an error in this question or solution?
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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 3. 5) | Page 316
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