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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.
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संबंधित प्रश्न
Give a word, term, or phrase which can substitute the following statement:
An amount spent on promoting sale of goods.
Interest on Drawing is credited to __________ Account.
Fill in the blank :
Interest on Bank Loan is debited to _________ A/c
Salaries appearing in the trial balance is shown on the ______.
Prepare Profit and Loss Account of Sanjay Brothers for the year ended 31st March 2018 from the following balances.
1) Bank charges ₹ 22,000
2) Interest (Cr.) ₹ 16,000
3) Sundry expenses ₹ 42,000
4) Insurance ₹ 35,000
5) Salaries ₹ 40,000
6) Rates and Taxes ₹ 13,000
7) Postage ₹ 8,000
8) Advertisement ₹ 40,000
9) Rent paid ₹ 32,000
10) Bad debts ₹ 10,000
11) Commission (Cr) ₹ 17,500
12) Printing & Stationery ₹ 21,000
13) Loss by fire ₹ 18,000
14) Discount (Dr) ₹ 23,000
15) Discount (Cr) ₹ 37,000
16) Misc. Income ₹ 14,000
17) Depreciation ₹ 34,000
18) Carriage Outwards ₹ 60,000
19) Godown Expenses ₹ 40,000
Note: Gross Profit ₹ 407500
Give a word, term or phrase which can substitute of the following statement:
Account prepared to know Net Profit or Net Loss.
Net profit/loss is transferred from ______.
In case, the total of the debit side is greater than the total of the credit side, the difference represents ______.
Which account type does the Profit and Loss Account belong to?
What is the effect of depreciation on furniture and machinery in the Profit and Loss Account?
