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Question Practice

If the Trading Account shows a Gross Profit of `50,000, what impact does this have on the Profit and Loss Account?

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MCQ_SA
CBSE
Class 11
Accountancy
Accountancy - II
Financial Statements - I
Question Bank

If the Trading Account shows a...

Single Answer MCQ
Q-00053484

If the Trading Account shows a Gross Profit of `50,000, what impact does this have on the Profit and Loss Account?

1

It will decrease the net income

2

It will have no effect

3

It will increase the net income

4

It cannot be determined

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Q1.

Which of the following is NOT included in the financial statements?

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Q2.

The primary purpose of a Trading Account is to calculate which of the following?

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Q3.

In a Profit and Loss Account, which of the following is deducted from Gross Profit to find Operating Profit?

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Q4.

Which financial statement reflects a company's financial position at a specific date?

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