MyQuestionIcon

3

You visited us 3 times! Enjoying our articles? Unlock Full Access!

Reserves and Surplus

Select the mo...

Question

Select the most appropriate alternative from those given below. Debit balance of trading account means _________.

Open in App

Solution

Debit balance of Trading Account means gross loss. Hence, the correct option is (A)

Suggest Corrections

thumbs-up

8

Similar questions

Q. Select the most appropriate alternative from those given below and rewrite the statement.

_________________ is the list of all ledger balances.
a) balance sheet
b) trial balance
c) trading A/c
d) profit and loss A/c

Q. Select the most appropriate alternatives from those given below

A list of balances of all the accounts in ledger is called __________.
a) Balance Sheet
b) Profit & Loss A/c
c) Trading A/c
d) Trial Balance

Q. Select the most appropriate alternatives from those given below and rewrite the sentence :

Wages A/c is transferred to ________ A/c.
a) Trading A/c
b) Profit And Loss A/c
c) Trial Balance
d) Any

Q. Select the most appropriate alternative from those given below and rewrite the statement.

Final accounts are prepared on the basis of _________________ and adjustments.
a) trial balance
b) capital A/c
c) trading A/c
d) profit and loss A/c

Q. Select the most appropriate alternative from those given below and rewrite the statement.

A statement showing financial position of the business is called as _________________.
a) balance sheet
b) trial balance
c) capital
d) trading A/c

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Understanding Balance Sheet

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Reserves and Surplus

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon