Select the most appropriate alternatives given below and rewrite the sentence:
i. Debit balance of Trading Account means ________
(a) Gross Loss
(b) Net Loss
(c) Net Profit
(d) Gross Profit
ii. Carriage Inward is debited to _________ Account.
(a) Trading
(b) Profit and Loss
(c) Capital
(d) Bank
iii. Excess of credit over to debit in Profit and Loss A/c indicates ________
(a) Net Profit
(b) Gross Profit
(c) Gross Loss
(d) Net Loss
iv. Closing stock is always valued at cost or market price which is _________
(a) more
(b) less
(c) zero
(d) equal
v. When specific date is not given, in that case interest on drawings is charged for ________ month.
(a) Four
(b) Six
(c) Eight
(d) Nine