Fill in the blank:i. All indirect/operating expenses are transferred�

1.	Fill in the blank:i. All indirect/operating expenses are transferred to _______ account.ii. Interest of proprietor’s drawing is credited to ________ account.iii. An excess of debit over credit in the Profit & Loss A/c represents the _______iv. All direct expenses are transferred to _______ account.v. Balance Sheet is _____________ of assets & liabilities.
Answer» i. Profit and Loss A/c ii. Profit and Loss A/c iii. Net Loss iv. Trading A/c v. Statement

Fill in the blank:i. All indirect/operating expenses are transferred to ___ account.ii. Interest of proprietor’s drawing is credited to account.iii. An excess of debit over credit in the Profit & Loss A/c represents the _iv. All direct expenses are transferred to _ account.v. Balance Sheet is _________ of assets & liabilities.

Answer»

i. Profit and Loss A/c

ii. Profit and Loss A/c

iii. Net Loss

iv. Trading A/c

v. Statement