The credit entry for net profit is on the credit side of (A) The trading account (B)

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The credit entry for net profit is on the credit side of

(A) The trading account

(B) The profit and loss account

(D) The capital account.

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Frank Woods Business Accounting Volume 1

ISBN: 9780273681496

10th Edition

Authors: Frank Wood, Alan Sangster

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Question Posted: Aug 20, 2023 01:11 AM

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The credit entry for net profit is on the credit side of (A) The trading account (B)

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The correct answer is B The profit and loss account Explanation In accounting the net profit is the ...View the full answer

Frank Woods Business Accounting Volume 1

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