The purpose of profit and loss account is to as... - JAMB Accounting 2019 Question
The purpose of profit and loss account is to ascertain
A
Gross profit
B
Capital
C
Expenses
D
Net profit
correct option: d
An income statement or profit and loss account is one of the financial statements of a company and shows the company's revenues and expenses during a particular period. It indicates how the revenues are transformed into the net income or net profit. Wikipedia
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