Excess of debit total of an account over it’s credit total indicates _____________ balance.
(a) Negative
(b) Positive
(c) Debit
(d) Credit
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i. Gross Profit is transferred to _________account. ii. Debit Balance of Trading Account indicates __________
i. Profit and Loss A/c ii. Gross Loss iii. Asset iv. Profit and Loss A/c v. Net Working
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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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General Reserve Account always shows - (A) Debit balance (B) Credit balance (C) Debit & credit balance (D) None of these
Correct option is: (A) Debit balance
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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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Excess of credit over to debit in Profit & Loss Account indicates _______
Correct option is (a) Net Profit
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(i) A bound book of Account. (ii) The credit balance of the Bank Account.
(i) Ledger (ii) Bank Overdraft (iii) Ledger Posting (iv) L.F. No. (v) Credit Side
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(i) Excess of a total of debit side over a total of credit side of Cash Book, Bank column.
(i) Bank Balance as per Cash Book (ii) Overdraft (iii) Pass Book (iv) Pass Book (v) Overdraft
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Credit balance in the Pass Book represents _____________
Correct option is (b) bank balance
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If the trial balance shows a short credit the suspense account will have a _______ balance.
Correct option is (c) credit
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State whether the following accounts will show debit or credit balance : `{:("(i) Purchases Accounts","(ii) Cash"),("(iii)Capital","(iv) Salary"),("(v
Correct Answer - Debit balances : - (i), (ii), (iv), (vi), (vii), (viii).
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