CameraIcon

SearchIcon

MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Grouping of Items in Statement of Profit and Loss

Answer the fo...

Question

Answer the following in one sentence:
What do you mean by Net Profit?

Open in App

Solution

When the total of credit of Profit and Loss Account is greater than the total of debit side, it indicates credit balance which is known as net profit.

Suggest Corrections

thumbs-up

0

Similar questions

Q. Answer in one sentence.

What do you mean by net profit?

Q. Answer the following in one sentence:
What do you mean by Profit and Loss Account?

Q. Answer in one sentence only :
What do you mean by Ledger?

Q. Answer in one sentence only :-

What do you mean by compensating errors?

Q. Answer in one sentence only :

What do you mean by crossed cheque?

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Statement of Profit and Loss

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Grouping of Items in Statement of Profit and Loss

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon