Question

net profit is reflected in true or false with reason​

Answer 1

Answer:

yes

Explanation:

if it increases net worth increases

Answer 2

Answer:

yes,In a Profit and Loss Account, when the credit side total i.e. a total of incomes is more than the debit side total, i.e. expenses it is known as a credit balance. When incomes exceed expenses there is profit. Therefore credit balance of Profit and Loss Account indicates net profit.