Question
Accountancy Question on Profit and Loss Account
Super profit refers to:
A
Abnormal profits earned by the partnership firm
B
Difference between Normal profit and profit as shown by Profit and Loss A/c
C
Difference between Average adjusted profit and Normal profit
D
Capital multiplied by Normal Rate of Return
Answer
Difference between Average adjusted profit and Normal profit
Explanation
Solution
The correct option is (C) :Difference between Average adjusted profit and Normal profit