What is the purpose of Statement of Profit and loss? (2024)

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Purpose of Financial Statements

What is the p...

A

To present a true and fair view of the financial performance of the business

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B

To present a true and fair view of the financial position of the business

C

Both :

To present a true and fair view of the financial performance of the business

To present a true and fair view of the financial position of the business

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D

None of these

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Solution

The correct option is A

To present a true and fair view of the financial performance of the business

To present a true and fair view of the financial performance of the business is the purpose of Statement of Profit and loss


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Introduction

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What is the purpose of Statement of Profit and loss? (2024)
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