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Business > PROFIT OR LOSS ACCOUNT > Flashcards

PROFIT OR LOSS ACCOUNT Flashcards

1
Q

ORDER OF DIFF CATEGORIES

A

TRADING ACCOUNT$PROFIT AND LOSS ACCOUNT
APPROPRIATION ACCOUNT

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2
Q

TRADING ACCOUNT

A

SALES REVENUE
COGS
GROSS PROFIT

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3
Q

PROFIT AND LOSS ACCOUNT

A

EXPENSES
NET PROFIT BEFORE INTEREST AND TAX

INTEREST
NET PROFIT BEFORE TAX

TAX
NET PROFIT AFTER INTEREST AND TAX

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4
Q

APPROPRIATION ACCOUNT

A

DIVIDENDS
RETAINED PROFITS

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