Question

this question from commerce. what is profit
​

Answer 1

Answer:

Explanation:

The purposes of preparing Profit and Loss Account are:

1. To calculate net profit or net loss

2. To ascertain net profit ratio and to compare this year’s net profit ratio with that of the desired and proposed target in order to assess the efficiency and effectiveness

3. To measure the adequacy and reasonability of indirect expenses incurred by ascertaining ratio between indirect expenses and net profit

4. To compare current year’s actual performance with desired and planned performance

5. To provide various provisions and reserves to meet unforeseen future conditions and to toughen the financial position of the business

Answer 2

the bio data of a particular person