Company Affairs (CS) Question:
1: What is BRS?
2: Why do we prepare balance sheet?
3: What is trial balance?
4: What is mutual fund?
5: Why net profit shown liabilities side in balance sheet?
Answer:
We do BRS when there arises a difference between the balances in the cashbook and passbook.
We prepare balance sheet to ascertain the financial position of business trail balances-to check dual entry of transactions arithmetically deferred revenue expenditure-that which spreads the benefit 4 a long time.
Net profit is a liability on part of business to pay to owner.
We prepare balance sheet to ascertain the financial position of business trail balances-to check dual entry of transactions arithmetically deferred revenue expenditure-that which spreads the benefit 4 a long time.
Net profit is a liability on part of business to pay to owner.
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