State Whether the Following Statement is True Or False. - Book Keeping and Accountancy
State whether the following statement is True or False.
Debit balance of Trading account shows gross profit.
Explanation: Debit balance of Trading Account shows gross loss, i.e. when the debit side of the Trading account exceeds its credit side.
Concept: Preparation of Final Accounts
Is there an error in this question or solution?
why create a profile on Shaalaa.com?
1. Inform you about time table of exam.
2. Inform you about new question papers.
3. New video tutorials information.