Final Accounts ...

_______ is the difference between the selling price and the cost price of the goods sold.

Carriage outwards appears in ______, whereas carriage inwards appears in ________.

Excess of expenditure over income is also known as _____.

Gross profit or gross loss revealed by trading account is transferred to:

The net profit or loss is transferred to______________.

Depreciation appearing in the trial balance should be:

Revenue expenditure are balanced and is transferred to ______________.

If capital losses are negligible, they are_______ of the year in which they occur.

Capital losses are:

In order to prepare the final accounts all the ________ accounts are transferred to Trading and Profit and Loss account.