Is Debit balance of income and expenditure account deficit or surplus? why?

Dear Student, Income and Expenditure Account is a nominal account. Therefore, the rule of nominal account (debit all expenses and losses and credit all incomes and gains) is followed while preparing it. If the credit side exceeds the debit side, there is surplus. On the other hand, if the debit side exceeds the credit side, there is a deficit. In this case, there is debit balance, it means it is deficit. Regards

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