A trading account is prepared to disclose the
...A trading account is prepared to disclose the
Net profile or loss for the year
Gross profit or loss for the year
Accumulated fund for the year
Gross profit on manufacturing
Correct answer is B
The purpose of the profit and loss account is to: Show whether a business has made a PROFIT or LOSS over a financial year. It describe how the profit or loss arose – e.g. categorizing costs between “cost of sales” and operating costs.
The total of the discount from creditors is transferred to ...
A partnership’s internal regulation are set out by________ ...
\(\begin{array}{c|c} & \text{1/6/2011} & \text{30/5/2012}\\ & D & D \\ \hline \text{...
\(\begin{array}{c|c} & & ₦\\ \hline \text{Raw materials} & \text{stock 1/1/2000} &...
Which of the following is not a debit entry on a sales ledger control account? ...
An event that will not require a change in the profit-sharing ratio of partners in a firm is wh...
The distinguishing feature between a two-column cash book is ...