WHAT IS GAIN? ACCOUNTS. CLASS 11TH .BASIC ACCOUNTING TERMS. CHAPTER 2.

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WHAT IS GAIN? ACCOUNTS. CLASS 11TH.BASIC ACCOUNTING TERMS. CHAPTER 2.
Transcript
00:00Hello guys, this is Sonia Setia, your accounts and eco-tutor.
00:04Basic accounting terms we were doing for class 11th accounts.
00:07Term number 11, we have gain.
00:09So what do you mean by gain?
00:11Whenever you get profit from non-operating or non-recurring activity, that is known as gain.
00:18Whenever you earn income from non-operating activity, that is known as gain.
00:23Suppose I have a shampoo manufacturing business.
00:25You call the income earned from that as profit.
00:29But other than operating activity, if you get income from anything else, that is known as gain.
00:36So what is it?
00:37Income earned from irregular or non-recurring nature activities.
00:40It's a profit that arises from the transactions which are not operating activities of the business.
00:45But it is incidental.
00:47It is incidental.
00:48It is not going to happen every day.
00:50What is the example?
00:51Suppose we did land sale, machinery, invested.
00:54The income that came from it, that is known as gain.
00:57I have given the telegram link.
00:59Thank you so much.

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