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Thursday, 02 April 2026
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The aim of the profit and loss account is to show ____________

The aim of the profit and loss account is to show ____________
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A Gross loss.
  • B Gross profit/loss.
  • C Net loss.
  • D Net profit/loss.
  • E Net profit.
Correct Answer: Option D
Explanation:
A profit and loss account shows the net profit or loss for a specific period by comparing revenue and expenses.

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