Question

-is always taken as Revenue Income
Separate party Fund
Reserve Fund
Legacies
Special Fund
7. The Net Profit or Net Loss is transferred to:
Capital A/C
Land and Buildings /c
Plant and Machinery A/C
Furniture and Fittings A/C
8. When the cost of buying goods is more than the selling price then it is
called as:
Gross Loss
Net Loss
Gross Profit
Net profit​

Answer 1

Answer:

6.___is always taken as Revenue Income

Separate party Fund

Reserve Fund ✔

Legacies

Special Fund

7. The Net Profit or Net Loss is transferred to:

Capital A/C✔

Land and Buildings /c

Plant and Machinery A/C

Furniture and Fittings A/C

8. When the cost of buying goods is more than the selling price then it is

called as:

Gross Loss

Net Loss ✔

Gross Profit

Net profit

hope it helps..

Answer 2

Answer:

-is always taken as Revenue Income

Separate party Fund

Reserve Fund

Legacies

Special Fund