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Small businesses usually create several different types of financial reports including profit and loss accounts balance sheets and forecasting.
The unfavourable balance of profit and loss account should be. C Subtracted from liabilities. A Added in liabilities. The unfavorable balance of Profit and Loss account should be.
It is prepared based on. Hence Credit balance of Profit and loss account is profit. If Balance of Debit side is Rs 100000 and that of credit side i.
When the credit side is more than the debit side it denotes profit. A Added in liabilities. The favorable balance of profit and loss account.
A Added in liabilities b Subtracted from current assets c Subtracted from liabilities d Added in capital 16. It doesnt show day-to-day transactions or the current profitability of the business. The unfavorable balance of Profit and Loss account should be.
Subtracted from current assets. Which of the following is nota satisfactory statement of the balance. The Unfavourable balance of the PL account should be deducted from the capital.
A profit and loss account records all the incomes and expenses that have taken place in the year. The PL statement reveals the companys realized profits or losses for the specified period of time by comparing total revenues to the companys total costs and expenses. The unfavourable balance of profit and loss account should be ______.
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