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At the end of the accounting year, nominal accounts, which include income, expenses, gains, and losses, are closed by transferring their balances to the profit and loss account. This process is essential to determine the net profit or loss for the accounting period. Once these balances are transferred, the nominal accounts are reset to zero and are not carried forward to the next accounting period.
In the following question select the answer pair that expresses a relationship most similar to that expressed in the capitalised pair.
Insolen...
In each of the following questions, one word is highlighted in bold. There are four sentences given in the option. Out of the four sentences, three wil...
Fill in the blanks with the appropriate antonym of the word in Italic from the options given:
The king was known for his generosity , but h...
In the following questions, choose the word opposite in meaning to the given word.
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What is the antonym of the word "ephemeral"?
A place where weapons and military equipment are stored
An independent person or body officially appointed to settle a dispute
Hygrometer : Humidity :: Sphygmomanometer : ?
A person who believes that nothing is known or can be known of the existence or nature of God.
The science of colours.