None Net profit is calculated in which of the following account? A) Profit and lossaccount B) Balance sheet C) Trial balance D) Trading account

The Income Statement, sometimes referred to as the Profit and Loss (P&L) account, is a financial…

Answered: Net profit is calculated in which of…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 20MC: Which of the following is a measurement of earnings that represents the profit before interest,...

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Similar questions

Which of the following is a measurement of earnings that represents the profit before interest, taxes, depreciation and amortization are subtracted? A. net income B. retained earnings C. EBITDA D. EPS
What is the effect on the current period income statement and the balance sheet when inventories are written down using the lower of cost or market method? What is the effect on future period income statements and balance sheets?
Which of the following is not an element of the financial statements? A. future potential sales price of inventory B. assets C. liabilities D. equity
Which of the following is a nominal account? a. Retained earnings b. Accounts receivable c. Purchase returns and allowances d. Accumulated depreciation
Question: What is the formula for calculating the net profit margin? a. Net Profit / Revenue b. Revenue / Net Profit c. Net Profit / Total Assets d. Total Assets / Net Profit
Which of the following is a contra account
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In which of the following types of accounts are increases recorded by credits? A. revenues and liabilities B. drawing and assets C. expenses and liabilities
which of the following comes first in the income statement O a. finance cost O b. gross profit O C. C. cost of sales O d. distribution cost
compare the current rate method and the temporal method, evaluate how each aff ects theparent company’s balance sheet and income statement, and determine which method isappropriate in various scenarios;
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Net profit is calculated in which of the following account? A) Profit and loss account B) Balance sheet C) Trial balance D) Trading account