The balance in the profit and loss account is transferred to the: profit and loss account. capital account. bank account. drawings account
The balance in the profit and loss account is transferred to the: profit and loss account. capital account. bank account. drawings account
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter16: Advanced Topics Concerning Complex Auditing Judgments
Section: Chapter Questions
Problem 15MCQ
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multiple choice question
a.The balance in the
- profit and loss account.
- capital account.
- bank account.
- drawings account.
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