Under the Net worth method, the basis for ascertaining profit or loss is the difference between ________
(a) Capital on two dates
(b) Gross assets on two dates
(c) Liabilities on two dates
(d) Net assets on two dates
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Receipts and Payments Account usually indicates - (A) Surplus/deficit (B) Cash balance (C) Capital fund (D) Net profit/loss
Correct option is: (B) Cash balance
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The figures of profit and net worth are disclosed by books of accounts.
This statement is True. The purpose of preparing books of accounts is to know financial details of organization from journal ledger, trial balance, final accounts proprietor to get an idea of...
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(i) Net profit is transferred to ________
(i) Balance Sheet Capital A/c (ii) Drawings (iii) Asset (iv) Trading (v) Trading
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A statement of __________ is to be prepared in under to find out profit or loss under a single entry system.
Correct option is (d) Profit or Loss
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(i) In statement of profit or loss, profit on sale of assets are _________ to closing capital.
(i) Added (ii) Deducted (iii) Single Entry System (iv) the closing capital balance
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if two bikes are sold at the same price so that there is a profit of 45 % on one bike and loss of 45% on the other . The net result of the transaction
Correct Answer - loss `20.25%`
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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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Madhu bought the following items from a super market : (i) Soaps worth Rs. 220, (ii) Cosmetics worth Rs. 580 and (iii) Vegetables worth Rs.650. If sal
Correct Answer - Rs.1532
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Tell what is the profit or loss in the following transactions. Also find profit per cent or loss per cent in each case. (a) Gardening shears bought fo
Correct Answer - (a)लाभ = ₹75; लाभ% =30 (b) लाभ = ₹1500; लाभ% =12.5 (c ) लाभ = ₹500; लाभ% =20 (d) हानि= ₹100; हानि% =40
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