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The following is a statement of revenues and expenses for a...

This question belongs to Commerce Accounting
Accounting
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The following is a statement of revenues and expenses for a specific period of time

Answer & Solution
Correct Answer: Option C
Profit & Loss statements is a statement of revenues and expenses for a specific period of time, usually a fiscal quarter or year.
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2 Comments
Pranali Pawar
Pranali Pawar 6 years ago
Profit and loss is an Account, not a statement.
Manoranjan Adhikari
Manoranjan Adhikari 6 years ago
can I know why the answer is c only however trading account also record direct incomes and direct expenses
or the reason behind C is that this is pl statement not pl account and pl statement is the combined form of both pl account and trading account.
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