Question

1 point
15. The charges of placing
commodities into a saleable
condition should be charged to
O A) Trading account
O B) P&L a/c
O C) Balance Sheet
OD) None of the above
This is a required question​

Answer 1

Answer:

B

Explanation:

Profit and loss account is an account in the books of an organization to which incomes and gains are credited and expenses and losses debited, so as to show the net profit or loss over a given period. It includes the cost of materials both direct and indirect that were used up in the production process to convert the product into a saleable and consumable goods.