Question

12. All revenue incomes are credited to

[A] manufacturing account

[B] trading account

[C] profit and loss account

[D] none of the above

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Answer 1

Answer:

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Answer 2

(c) Profit and loss account

A profit and loss account is ready to decide the total compensation (execution consequence) of an undertaking for the year/time frame. This is the main data to be accounted for direction. It is essential to get ready Profit and Loss articulation since this data assists an association with taking the right business choice like where would it be advisable for us we do the expense cutting, from where would a business be able to create more benefit and in what part business is experiencing the misfortune.