Question

Excess of debit over credit in the trading account means...
A .gross loss
B.gross profit
C.cost of goods sold
D.none of these​

Answer 1

Answer:

In case, the debit side exceeds the credit side, the difference is written on the credit side and is called as debit balance. If the credit side exceeds the debit side, the difference between the two appears on the debit side and is called credit balance

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Answer 2

The right answere will be option (a) gross loss