1.WHAT IS BRS? 2.WHY DO WE PREPARE BALANCE SHEET? 3.WHAT IS
TRIAL BALANCE? 4.WHAT IS VENTURE CAPITAL? 5. WHAT IS
DEFFERED REVENUE EXPENDITURE? 6. what is mutualfund? 7. why
net profit shown liabilities side in balance sheet?
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Answer Posted / prasannna kottamasu
we do BRS when there arises a difference between the
balances in the cashbook and passbook.
we prepare balance shhet to ascertain the financial
position of business
trail balances-to chect dual entry of transactions
arithematically
deffereed revenue expenditure-that which spreads the
benefit 4 a long time.
net profit is a liabilkity on part of businee\ss to pay to
owner
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