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प्रश्न
______ provides information about the net profit earned or net loss suffered by the business during a given accounting period.
विकल्प
Trading account
Profit and Loss account
Balance sheet
Manufacturing account
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उत्तर
Profit and Loss account provides information about the net profit earned or net loss suffered by the business during a given accounting period.
Explanation:
The profit and Loss account is prepared to calculate the business’s net profit or net loss for a given accounting period.
APPEARS IN
संबंधित प्रश्न
Answer in One Sentence:
What do you mean by Profit & Loss A/c?
Answer in One Sentence:
State the meaning of Outstanding Expenses?
Give a word, term, or phrase which can substitute the following statement:
Income due but not yet received
Select the most appropriate alternatives given below and rewrite the sentence :
Discount earned is transferred to credit side of ___________ account
Excess of credit over to debit in Profit and Loss Account indicates ________
State True or False with reasons:
Credit balance of Profit and Loss account shows net profit.
Fill in the blank :
Interest on Bank Loan is debited to _________ A/c
Fill in the blank :
Interest of proprietor's drawing is credited to _________ account.
Give a word, term or phrase which can substitute in the following statement:
Account prepared to know Net Profit or Net Loss.
Net profit/loss is transferred from ______.
