gross profit is ascertained by preparing
1) trading account
2) manufacturing account
3) profit and loss account
4) balance sheet
Answers
Answered by
11
trading account......
mwchang:
are you sure
no... its trading account
why do you telling me wrong ans
sorry at that time i was confused sorry
which one correct answer
Answered by
0
Answer:
gross profit is ascertained by preparing option 1) trading account.
Explanation:
- we can calculate the gross profit from the trading account by subtracting the cost of goods sold from net sales.
- Gross profit= Net sales - cost of goods sold
- Gross profit shows the profit of the company after all the direct expenses are paid and direct revenues are calculated.
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