The Profit and Loss Account shows the:?

Accounting Mcqs
BILAL KHATTAK0

A. Financial results of the concern for a period 
B. Financial position of the concern on a particular date
C. Financial results of the concern on a particular date
D. Cost of goods sold during the period 

Related Mcqs:

  1. The Balance Sheet gives information regarding the____________??
  2. Gross Profit is equal to_________??
  3. Which of the following will not appear in Profit and Loss Account of a business??
  4. Any gain on the sale of non-current assets should be _________ from the net profit and the loss must be _________to the net profit in determining fund from operation??
  5. During the year 2011-2012, the value of closing inventory was overstated by 25,000. Which of the following is true??
  6. Net sales equals, sales minus:?
  7. Recent developments have made much of a company‘s inventory obsolete. This obsolete inventory should be??
  8. In the short run, in cannot produce at an economic profit
  9. A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on SLM method, find the profit or loss on sale of the car??
  10. Which of the following costs are reported on the income statement as the cost of goods sold??

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