Question

what is termed as excess of credit side total amount over debit side total amount in profit and loss account​

Answer 1

Answer:

net profit

Explanation:

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Answer 2

Net Profit

The excess of credit side total amount is called Net Profit as it denotes an excess of Income over Expenditure. On the other hand, an excess of Debit Side over Credit side total amount is called Net Loss as it denotes an excess of Expenditure over Incomes.

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