Question

It is an account prepared to ascertain the gross profit/loss. It is a nominal account and represents the first stage of final accounts of a trading organisation.

विकल्प

• Trading Account

• Profit and loss account

• Balance sheet

• Manufacturing account

Answer 1

Trading Account

Explanation:

A Trading Account may be defined as an account prepared to ascertain a business concern's gross profit or gross loss for a given time period.