Profit or Loss on Revaluation is born by -
(A) Old partners
(B) New partners
(C) All partners
(D) Only two partners
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M/s ABC & co . Is advised to dibit salary and commission , who of partners to the partners to the profit and loss Apptopriation Account , why do you t
Salary and commission to partners is an appropriation of profit and not a chrge it is because of this reason that the profit and loss appropriation account should be debited
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i. Debit balance of Trading Account means ________ (a) Gross Loss (b) Net Loss (c) Net Profit (d) Gross Profit
i. (a) Gross Loss ii. (a) Trading iii. (a) Net Profit iv. (b) less v. (b) Six
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The credit balance of the Profit & Loss account shows a net profit.
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...
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When the credit side of the Profit and Loss Account is greater than the debit side, it is called Net Loss.
When the credit side of the Profit and Loss account is greater than the debit side, it is called Net Profit.
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2. The old man bowed to all of us in the room. a. Who was the old man? b. Where was the old man at that time? c. Why had he come there?
This is Englih.Extracts taken from lesson genleman rio en medio please answer fastly friends
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2. The old man bowed to all of us in the room. a. Who was the old man? b. Where was the old man at that time? c. Why had he come there?
2 Answers
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Excess of credit side over the debit side in Revaluation Account is- (A) Profit (B) Loss (C) Receipt (D) Expense
Correct option is: (A) Profit
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Change is profit sharing ratio of existing partners result in - (A) Revaluation of firm (B) Reconstitution of firm
Correct option is: (B) Reconstitution of firm
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The cost price of two articles is the same. One is sold at 10% profit and the other is sold at 10% loss. What is the effective profit/loss percentage
Correct Answer - No profit/loss is made
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The selling price of two articles is the same. One is sold at 25% profit and the other is sold at 25% loss. What is the effective profit/loss percenta
Correct Answer - Loss of 6.25%
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