The figures of profit and net worth are disclosed by books of accounts.

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...

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

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

Step 1: You Can select an already created company using the ‘Select Existing Company ’ Option on Opening Screen. Step 2: Log in with User Name and Password Step 3: To create an...

This statement is False. Irregularities frauds and misappropriations can be detected by auditing. Continuous and periodical auditing will detect the irregularities frauds and misappropriations which is done by a chartered accountant.

(i) Ledger (ii) Nominal Accounts (iii) Purchases Account (iv) Trial Balance

Correct option is (a) Capital on two dates

Correct Answer - Rs.1532

Correct Answer - Debit balances : - (i), (ii), (iv), (vi), (vii), (viii).