Advertisements
Advertisements
Question
______ is prepared to know the financial position where as ______ is prepared to ascertain the net profit or net loss.
Options
Trading account, profit and loss account
Profit and loss account, trading account
Profit and loss account, balance sheet
Balance sheet, profit and loss account
MCQ
Fill in the Blanks
Solution
Balance sheet is prepared to know the financial position where as profit and loss account is prepared to ascertain the net profit or net loss.
shaalaa.com
Difference Between a Balance Sheet and a Profit and Loss Account
Is there an error in this question or solution?
