Question

u-
RAJMATA JIJAU SHIKSHAN PRASARAK MANDAL'S
ARTS, COM., SCIENCE COLLEGE
LANDEWADI, BHOSARI, PUNE-39
EXAM : PRELIMINARY EXAM 20-21
SUB : BOOK KEEPING & ACCOUNTANCY
CLASS : 12 TH COM.
MA
Q. 1. Attempt any four
(A) Select the correct option and rewrite the sentence :
(1) To find out net profit or net loss of the business, Account is
prepared by the business.
(a) Trading
(b) Profit and Loss
(c) Capital
(d) Current​

Answer 1

Answer:

Profit and Loss A/c

Explanation:

A business firm prepares its final accounts at the end of its financial year to analyze its financial status and to identify the net  profit or loss earned during the year .

So to find the net profit or loss earned during the year , the firm prepares the profit & loss A/c .