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प्रश्न
What is the need for preparing profit and loss account?
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उत्तर
- Ascertainment of net profit or net loss
- Comparison of profit
- Control on expenses
- Helpful in the preparation of the balance sheet.
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संबंधित प्रश्न
Answer in One Sentence:
State the meaning of Outstanding Expenses?
Give a word, term, or phrase which can substitute the following statement:
The provision made to compensate the loss on account of likely debts.
Find the odd one :
Give a word, term or phrase which can substitute the following statement:
Account prepared to know Net Profit or Net Loss.
______ provides information about the net profit earned or net loss suffered by the business during a given accounting period.
Storage expenses, carriage outwards, salaries of sales staff are recorded on the ______ side of the ______.
What is the purpose of a Profit and Loss Account?
Which of the following is NOT recorded in the Profit and Loss Account?
Where is “Discount allowed” shown in the Profit and Loss Account?
The “Packing expenses” are classified in the Profit and Loss Account when they are:
