GK
ACCOUNTING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
In case of a limited company, the term financial statements includes
|
|
Profit and loss account, profit and loss appropriation account and balance sheet
|
|
|
Balance sheet
|
|
|
Profit and loss and balance sheet
|
|
|
None of the above
|
Explanation:
Detailed explanation-1: -The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs, and expenses incurred during a specified period. The P&L statement is one of three financial statements that every public company issues quarterly and annually, along with the balance sheet and the cash flow statement.
Detailed explanation-2: -What are Financial Statements? Financial statements are a collection of summary-level reports about an organization’s financial results, financial position, and cash flows. They include the income statement, balance sheet, and statement of cash flows.
There is 1 question to complete.