What do you mean by balance of an account?

The total of debit side of the ledger account

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The total of credit side of the ledger account

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The difference between the sum of the two sides of an account is called the balance.

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Solution

The correct option is C
The difference between the sum of the two sides of an account is called the balance.

The difference between the sum of the two sides of an account is called the balance.

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Similar questions

Q. When the total of debit side of an account exceeds credit side, what is the balance shown by the said account?

The total on the debit side of the cash account of a company is Rs 27600, while the total on the credit side is Rs 20500. What shall be the balance of the cash account as at year end & on which side of the ledger account will it be written?

When balance of an account is a debit balance, on which side of the ledger account is the entry for balancing done?

Q. An account has a debit balance if the total of credit side is greater than the total of debit side.

Q. An account has a credit balance,if the total of credit side is greater than the total debit side.

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What do you mean by balance of an account?

The correct option is C The difference between the sum of the two sides of an account is called the balance. The difference between the sum of the two sides of an account is called the balance.

The correct option is C
The difference between the sum of the two sides of an account is called the balance.

The difference between the sum of the two sides of an account is called the balance.