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.
Keeping records under single entry system has the advantage of ...
The authority to incur expenditure to address natural disaster is contained in ...
Use the following information to answer given question \(\begin{array}{c|c} & ₦ \\ \hline \...
One of the advantages of control account is that ...
Use the following to answer the given question BALANCE SHEET: \(\begin{array}{c|c} & N &am...
₦ Manufacturing wages 42,000 ...
Stock or raw materials(1st January) 3000 Direct wages 2500 Direct expenses 1000 Factory overheads...