The credit balance of the Profit & Loss account shows a net profit.

State True or False with reason:

The credit balance of the Profit & Loss account shows a net profit.

Monjur Alahi

7 views

2025-01-04 04:42

1 Answers

Salim Ahmed Kawsar

This statement is True.

The credit side of profit and loss A/c represents incomes when the credit side is greater than the debit side (expenses) it shows the Net Profit of the year.

7 views Answered 2023-02-05 15:29

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