Question

Fill in the blanks with appropriate words in the following sentences.
The difference between the debit and credit side of an account is called ________.

Answer 1

Balancing Figure

"Balance c/f" is usually used as a balancing line to calculate the closing balance figure. B/d means brought down. You will normally see "b/d" as "Balance b/d" at the top of a T-account. This shows the amount brought down from a previous period - i.e. the opening balance of an account.