The Profit and Loss account showsChoose one optionFinancial position of the concernNet Profit or Net LossGross Profit or Gross LossTotal Expenses

The Profit and Loss account showsChoose one optionFinancial position of the concernNet Profit or Net LossGross Profit or Gross LossTotal Expenses

Net profit is calculated in which of the following account?A) Profit and loss accountB) Balance sheetC) Trial balanceD) Trading account

Gross profit ratio is computed by dividing gross profit by:Group of answer choicesfinancial expenses.cost of sales.net sales.operating expenses.

Gross Profit is transferred toChoose one optionCapital AccountAssets A/cProfit and Loss A/cGoodwill a/c

Prepare Trading and Profit & Loss Account and Balance Sheet from the followingTrial Balance