Net profit is calculated in which of the following account?A) Profit and loss accountB) Balance sheetC) Trial balanceD) Trading account
Question
Solution 1
Net profit is calculated in the Profit and Loss Account (Option A). Here's a step-by-step explanation:
The Profit and Loss Account is a financial statement that summarizes the revenues, costs, and expenses incurred during a specific period of time.
This account is used to calculate the net p Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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