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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
Give a word, term, or phrase which can substitute the following statement:
Expenses paid before it is due.
Fill in the blank :
All indirect / operating expenses are transferred to ________ account.
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.
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 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.
It is an account prepared to know the net profit/loss. It is also a nominal account and represents second stage.
The difference of the two sides of this account is either net profit or net loss.
Distinguish between a Trading Account and a Profit and Loss Account.
