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Final Accounts of a Proprietary Concern — Book Keeping & Accountancy STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsBook Keeping & AccountancyFinal Accounts of a Proprietary Concern1 Mark
Question
What do you mean by Gross Profit?
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Answer

When the total credit side of Trading A/c is greater than the total of debit side, it indicates credit balance, which is called gross profit.

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