Question

Pick the odd one out: 

विकल्प

• General Reserve 

• Workman's Compensation Reserve 

• Debit balance of Statement of Profit & Loss

• Reserve fund

Answer 1

Debit balance of Statement of Profit & Loss

Explanation:

The debit balance of the Statement of Profit and Loss account is unusual in that the rest are presented on the credit side, while it is shown on the debit side of the Capital Account, despite the fact that it is split among all partners in the traditional profit sharing ratio.