Multiple choice

Which of the following financial statements is prepared yearly to find out the gross profit or gross loss of the firm?

  1. Account receivable statement

  2. Profit and loss account statement

  3. Cash transaction statement

  4. Prepared statement

  5. Trading account statement
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

This financial statement is a financial statement prepared yearly to find out the gross profit or gross loss of the firm.

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