True & Fair profit and loss a/c of a company is known by:
A. Preparing trial balance
B. Preparing respective ledger of account
C. Preparing trading a/c
D. Preparing trading and profit & loss a/c
Answer: Option D
This Question Belongs to Commerce >> Miscellaneous In Commerce
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Which of these items would be accounted for as an expense?
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B. Dividend to stock holders
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D. Payment of current period rent
Debit the receiver credit the giver rule for:
A. Real a/c
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C. Nominal a/c
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