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प्रश्न
______ provides information about the net profit earned or net loss suffered by the business during a given accounting period.
पर्याय
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
Give a word, term, or phrase which can substitute the following statement:
Account prepared to know Net Profit or Net Loss.
Give a word, term, or phrase which can substitute the following statement:
The provision made to compensate the loss on account of likely debts.
State True or False with reasons :
Income due but not received is a liability.
Fill in the blank :
Profit and Loss account is prepared to find out ___________ results of the business.
Salaries appearing in the trial balance is shown on the ______.
Give a word, term or phrase which can substitute in the following statement:
Account prepared to know Net Profit or Net Loss.
Give a word, term or phrase which can substitute the following statement:
Account prepared to know Net Profit or Net Loss.
Carriage outwards are recorded the ______ side of the ______.
Which of the following is NOT recorded in the Profit and Loss Account?
What principle is followed by recording indirect expenses and incomes in the Profit and Loss Account?
