----- accounts are closed and transferring to p/L account.
AAssets and Liabilities
BRevenue and expense
CEquity and Drawings
DFixed Assets and Current Assets
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Related Questions:
Errors which affect one side of an account are called?
A business unit is assumed to have an indefinite life comes under ---.
Installation charge of machinery is debited to ---.
Statement that explain the causes of difference between cash book and bank statement is called:
When a transaction is recorded on the both sides of the cash book but in different columns, such entry is called ----.