Which of the following should be prepared in order to show the net earnings of a...

Which of the following should be prepared in order to show the net earnings of a business?

Select one: a. Trading Account

b. Profit and Loss Account

c. Trial Balance

d. Balance Sheet

Expert Solution

Answer: Option (b) Profit and loss Account

Explanation:

Net earnings of a business can be identified by preparing Profit and loss Account. It consists of operating and non operating expenses and Incomes, the difference between these two is Net earnings or loss

ekkarill92 answered 2 years ago

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