All direct expenses are shown on the debit side of the trading account and all indirect expenses are shown on the debit side of the _____.

Balance Sheet

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Profit and Loss Account

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Capital Account

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None of these

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Solution

The correct option is B Profit and Loss Account
All direct expenses are shown on the debit side of the trading account and all indirect expenses are shown on the debit side of the profit and loss account.

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Similar questions

State whether the following statement are true or false.

1. Final Accounts are prepared on the basis of Trial Balance.
2. Trading Account is a part of Profit & Loss Account.
3. Profit Loss Account is prepared to find out Gross Profit or Gross Loss.
4. Gross Profit or Gross Loss is transferred to Balance Sheet.
5. An amount of net profit is added to the capital.
6. All indirect expenses are debited to trading account.
7. Balance Sheet is a statement and not an account.
8. Capital account is a personal account.
9. Amount of prepaid expenses appears on assets side.
10. Bank Overdraft is a liability of business concern.

All expenses are shown on _______ side of profit or loss account.

Q. All except _________ are shown on debit side of trading and profit and loss a/c.

Q. The gross loss and ___expenses are shown on the debit side of profit and loss account.

Q. All expenses incurred in case of Trading and Profit & loss account are ___________ in nature.

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All direct expenses are shown on the debit side of the trading account and all indirect expenses are shown on the debit side of the _____.

The correct option is B Profit and Loss Account All direct expenses are shown on the debit side of the trading account and all indirect expenses are shown on the debit side of the profit and loss account.

The correct option is B Profit and Loss Account
All direct expenses are shown on the debit side of the trading account and all indirect expenses are shown on the debit side of the profit and loss account.