Discussion Forum : Analysis Of Financial Statements
Question -


Which of the following is false regarding the Statement of Profit and Loss?

Options:
A .   The Statement of Profit and Loss doesnot shows net profit of the business.
B .   The Statement of Profit and Loss reports revenues, expenses, and liabilities
C .    The Statement of Profit and Loss reports revenue from operations.
D .   The Statement of Profit and Loss shows various expenses and income related to the particular period
Answer: Option A
:
A

The Statement of Profit and Loss doesnot shows net profit of the business is a false statement.
The correct statement is :
The Statement of Profit and Loss shows net profit of the business.


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