The Term of a Panchayat Body Is-

question 19

Multiple Choice

The term of a Panchayat body is-

• A)two years
• B)three years
• C)five years
• D)six years

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Definitions:

Retained Earnings

The portion of a company's profits not distributed to shareholders as dividends but retained by the company for reinvestment or to pay off debt.

Adjusted Trial Balance

A trial balance that reflects all adjustments made to the general ledger accounts, ensuring the debits equal the credits prior to preparing financial statements.

Balance Sheet Columns

Sections within the balance sheet that categorize assets, liabilities, and equity accounts to display a company's financial position at a specific point in time.

Net Income

Net income is the total profit of a company after all expenses, taxes, and costs have been deducted from total revenue.