A. net profile or loss for the year
B. gross profit or loss for the year
C. accumulated fund for the year
D. gross profit on manufacturing
Correct Answer: Option B
B. gross profit or loss for the year
Explanation
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 describes how the profit or loss arose – e.g. categorizing costs between “cost of sales” and operating costs.
Do you want to study Agricultural Extension in OOU? Before you apply for the OOU…
Do you want to study Agricultural Economics in OOU? Before you apply for the OOU…
Do you want to study Cooperative and Business Management in OOU? Before you apply for…
Do you want to study Home and Hotel Management in OOU? Before you apply for…
Do you want to study Animal Production in OOU? Before you apply for the OOU…
Do you want to study Crop Production in OOU? Before you apply for the OOU…