Trading and profit and loss account is known as ------- - Practice (English) | ObjectiveMcq

Loading practice questions

A focused practice platform for competitive-exam MCQs, subject wise, topic wise practice, and current affairs revision.

Exams

SSC CGL
UPSC CSE PRELIMS
IBPS PO
RRB NTPC
CDS

Subjects

Mathematics
Physics
General Knowledge
English
Reasoning

Resources

Current Affairs
Search MCQs
Practice Sets

Company

About Us
Contact
Privacy Policy
Terms of Use
Disclaimer
Copyright

Practice library for exams, subjects, and daily revision. For learning purposes only.

© 2026 ObjectiveMcq.ComAll rights reserved

Trading and profit and loss account is known as ------- - Practice (English) | ObjectiveMcq

PracticeBusiness ManagementFinancial AccountingTrading and profit and loss account...

Financial Accounting Business ManagementEasy

955 views

Trading and profit and loss account is known as ----------------------- statement

Correct Answer:

(A) Income

Explanation:

Income

Related Practice

What is the cash conversion cycle?
According to law who has to pay TDS to the Income Tax Department?
Which of the following can be budgeted in tally?
Final stage in the Research Process is
Public Expenditure refers to
When using EOQ ordering, the order quantity must be computed in every order cycle.
Use of the fixed-interval model requires having a perpetual inventory system.
The objective of inventory management is to minimize holding costs.