Multiple Choice
Net profit / loss is transferred to the ______ account
A) Asset account
B) Liabilities account
C) Capital account
D) None of these
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q22: In the creditors control account, all of
Q23: Ledger contains various _ in it<br>A)Transactions .<br>B)Entries
Q24: The _ in a ledger helps in
Q25: Only the significant events which affect the
Q26: The expenses and incomes pertaining to full
Q28: Payment received from Debtor<br>A)Decreases the Total Assets<br>B)Increases
Q29: In which of the following statement opening
Q30: Fixed Assets and Current Assets are categorized
Q31: Gross Profit is the difference between<br>A)Net Sales
Q32: Accounting does not record non- financial transactions