Capital A/c……………..Dr. To Profit and Loss Account (Being Net Profit transferred to Capital A/c)

i. This statement is True. The loan is taken from a person or bank and they are persons either natural or person or artificial persons. ii. This statement is True. All properties/assets come under real...

This statement is True. Depreciation is charged to profit and Loss A/c as it is an element of Cost. It is also essential to arrive at true value of the asset...

Commission payable to A -Rs, 11,000

i. (a) Gross Loss ii. (a) Trading iii. (a) Net Profit iv. (b) less v. (b) Six

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...

i. Agree ii. Disagree iii. Disagree iv. Disagree v. Disagree

The balancing figure of the Trading Account is Gross Profit or Gross Loss.

When the credit side of the Profit and Loss account is greater than the debit side, it is called Net Profit.

Correct option is: (B) Real Account

Correct option is: (B) Cash balance