A company’s profit and loss account for a period is prepared by
FINANCIAL
POST UTME OAU
A company’s profit and loss account for a period is prepared by
- A) deducting total expenses from total revenues
- B) deducting total cash payments from total revenue
- C) deducting all outflows of funds from all inwards of funds
- D) balancing its receipts and payments
Correct Answer: A) deducting total expenses from total revenues
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