šŸ“¢ Too many exams? Don’t know which one suits you best? Book Your Free Expert šŸ‘‰ call Now!


    Question

    Which among the following items link the Income

    Statement and the Balance Sheet
    A Net Profit/ Loss Correct Answer Incorrect Answer
    B Capital Correct Answer Incorrect Answer
    C Net Liabilities Correct Answer Incorrect Answer
    D Net Assets Correct Answer Incorrect Answer

    Solution

    Answer – Net profit/ loss which is the net result of the Income Statement gets added in the Capital Account which gets reflected under the liabilities section of the Balance Sheet.

    Practice Next
    ask-question