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Categories >> Accounting >> Accounting General
 
 


 

 
 Audit interview questions  Audit Interview Questions (427)
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 Accounting General interview questions  Accounting General Interview Questions (2809)
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Question
Where is Profit and Loss posted in a balance sheet?
 Question Submitted By :: Accounting-General
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
IF PROFIT THEN SHOW LIABILITIES SIDE AND IF LOSS THEN SHOW
ASSETS SIDE.
 
Is This Answer Correct ?    70 Yes 16 No
Kiran
 
Answer
# 2
If there is net profit then it is added back to the capital on
liability side and if loss it will be deducted.
 
Is This Answer Correct ?    41 Yes 2 No
Sadiq
 
 
 
Answer
# 3
If profit then we show liability side if loss then we show
the assets side.
 
Is This Answer Correct ?    14 Yes 2 No
Bharat
 
Answer
# 4
because capital is shown in liability side in balance sheet and if their is net profit it is added back in capital so it came on liability side of bl. 
Is This Answer Correct ?    8 Yes 3 No
Sunil Singh
 
Answer
# 5
if there is a profit it can added to the capital show on
liability side in p&l a/c and if loss then it can deduct on
capital show on asset side in p&l a/c.
 
Is This Answer Correct ?    4 Yes 0 No
Susheel Pandita
 
Answer
# 6
now under revised sch vi if profit then show it in liability
side and if loss then adjust it from reserve and surplus
 
Is This Answer Correct ?    2 Yes 1 No
Shashi
 
Answer
# 7
if loss has occur in business so it show in liabilities side
of balance sheet but if profit has occurred so it will show in
asset side of balance sheet.
 
Is This Answer Correct ?    13 Yes 49 No
Guest
 

 
 
 
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