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Question 152Asked in DSSSB TGT Computer Science, 25 Jun 2023, Shift 2 (12:30 PM)

Which of the following accounts is/are prepared for net profit?

  1. AProfit and loss account
  2. BTrading account, profit and loss account and balance sheet
  3. CTrading account
  4. DBalance sheet
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Correct answer: (A) Profit and loss account

Explanation

The profit and loss account records indirect expenses and incomes and shows the net profit or loss. The trading account gives only gross profit, and the balance sheet shows financial position.

From DSSSB TGT Computer Science PYQ, 25 Jun 2023, Shift 2 (12:30 PM)

This is question 152 of DSSSB TGT Computer Science PYQ, 25 Jun 2023, Shift 2 (12:30 PM). See all questions of this paper with answers, or attempt the paper as a timed online test to get your score and all-India rank.