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Which of the following financial statement summarizes the profitability of an organization for a particular period?

A)  Balance SheetB)  Trading and Profit & Loss accountC)  Cash Flow StatementD)  Statement of Retained Earnings 

Accounting Auditing Financial Reporting Financial Accounting Bookkeeping
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Question added by Muhammad Ramzan Tufail ACCA , Assistant Finance Manager , Eltizam Asset Management Group
Date Posted: 2015/06/01
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Shahbaz Hayder
by Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

Option B is the right answer.

Abbas Bharmal CA Inter M com Looking for New
by Abbas Bharmal CA Inter M com Looking for New , Senior Accountant , Msheireb Properties

B. Trading and Profit & Loss Account.

Zohaib Afzal MBA ACCA CISA
by Zohaib Afzal MBA ACCA CISA , HEAD OF ACCOUNTS , FUNDAMENT SPC

Statement of Profit & Loss Account

Muhammad Ramzan Tufail ACCA
by Muhammad Ramzan Tufail ACCA , Assistant Finance Manager , Eltizam Asset Management Group

(B) is the right Ans.

 

Thank you..

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