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The Trading and Profit and Loss account is also called_?

(A)Balance Sheet

(B)Cash Flow Statement

(C)Income Statement

(D)Trial Balance

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Question added by Sultan Alghamdi
Date Posted: 2016/02/11
Asha Kanta Sharma
by Asha Kanta Sharma , Team Leader Finance , Opendoors Fintech Private Limited

It is also called Income Statements

Abdul Majeed
by Abdul Majeed , Regional Accounts Officer , Sarhad Rural Support Programme

The trading and profit or loss account is also called Income Statement.

Ahmed Alkhateb
by Ahmed Alkhateb , Independent Accounting , Self employed

The answer is C. Income statement 

Lyubomir Petrov
by Lyubomir Petrov , Landscape Arch., Contractor, Expert , BurgosCommers-V.Valkov ltd, Boliara & Boyar-LandInvestPlan ltd;

The Answer is: A: Balance Sheet

Mahmoud Hamid
by Mahmoud Hamid , Finance Manager , Experts

Income statement: Revenues - COGS= GP

GP-Operating expenses=EBITDA

EBITDA - Deprectiona= EBIT

EBIT - interest= income before tax

Less tax= net income

Muhammad Rizwan
by Muhammad Rizwan , ACCA Intern , M.A Chaudhari & Co. (Chartered Accountants)

Option C : Income Statement

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