In profit and loss account, if credit is more than the debit, the difference is

Related MCQs

• Debit the receiver & credit the giver is _____ account
• The rule debit all expenses and losses and credit all income and gains relates to
• Profit and loss account is a
• In final account system, Branch Trading and Profit & Loss A/c is prepared at ________
• The interest charged on the hire purchase should appear in the profit and loss account in what manner?
• The principle “Debit the receiver and credit the giver” is related to_____
• The stock reserve for unrealised profit will be ________ to the H.O profit & Loss A/C
• Under debtors system which account is prepared by head office to calculate profit or loss of each branch:
• Branch Trading &Profit & Loss A/c is only a _________ account not forming part of the full accounting system.
• For every debit there will be an equal credit according to