Which of the following item is not treated in the profit ...
Which of the following item is not treated in the profit and loss account?
Office expenses
Salaries and allowances
Carriage inwards
Discounts allowed
Correct answer is B
A profit and loss account will include your credits (which includes turnover and other income) and deduct your debits (which includes allowances, cost of sales and overheads). These are used to find your bottom line figure – either your net profit or your net loss.
A three column cash book contains column for ...
The amount set aside out of profits to strengthen the financial position of the business is ...
A major benefit derived from the reconciliation of branch and head office books is to? ...
Which of the following does not appear in a bank statement? ...
The value of the owner's equity is ...
Which of the following is not a source document for recording sales? ...
The major focus of the trading account is to show ...
\(\begin{array}{c|c} & \text{1/6/2011} & \text{30/5/2012}\\ & D & D \\ \hline \text{...