Question

_______ account in which selling expenses of business are recorded.​

Answer 1

Answer:

under the accrual basis

Answer 2

Answer:

Profit  and Loss account in which selling expenses of business are recorded.​

Explanation:

The term profit and loss (P&L) statement refers to a financial plan that summarizes the revenues, costs, and expenses incurred throughout a given amount, typically 1 / 4 or year. These records offer info a couple of company's ability or inability to come up with profit by increasing revenue, reducing prices, or both. These statements ar usually conferred on a money or accounting.

P&L statements are cited as a(n):

Statement of profit and loss

Statement of operations

Statement of monetary results or financial gain

Earnings statement

Expense statement

Income statement

The P&L or statement, just like the income statement, shows changes in accounts over a group amount of your time. The record, on the opposite hand, could be a exposure, showing what the corporate owns and owes at one moment. it's vital to match the statement with the income statement since, beneath the step-up methodology of accounting, a corporation will log revenues and expenses before money changes hands.

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