what is trading Account ?

Answers were Sorted based on User's Feedback



what is trading Account ?..

Answer / shekhar

trading accounting is prepared at the end of the accounting
year.the main use of this accouning calculation of gross
profit pr gross loss.and in this all mfg expenses are
included.in this accounting debit is more than credit is
known as grossloss.debit is less than credit known as gross
profit.

Is This Answer Correct ?    13 Yes 0 No

what is trading Account ?..

Answer / animesh

Trading A/C is prepared at the end of every year.Transaction and Expenses related to the goods are recorded in it.For e.g, like Purchase-Sale of goods,Freight Carriage inward etc.It is useful to find out the GP(Gross Profit) OR GL(Gross Loss).

Is This Answer Correct ?    0 Yes 0 No

Post New Answer

More Accounting AllOther Interview Questions

How can i get GR form (GR No.) for Exports ? please give me a link of website with steps ?

0 Answers   John Deere,


What is Acqusition?

1 Answers   Capital IQ,


What is the meaning of cost center?

6 Answers   FIC,


what is circuit filter?

0 Answers  


is anybody attended interview in ernst&young for EMS PROCESS , pls let me know abt the written test and what type of report writing

0 Answers  






difference between contra entry and double entry?

0 Answers   TCS,


PURCHASE LABOUR CHARGE FROM R.K.DAS RS.6950AND TDSAPPLICABLE -

3 Answers  


What's the general entry for Prepaid salary on 31st march?

9 Answers   Genpact, IBM,


What is the difference between absorption, amalgamation and liquidation of companies? And why realisation account is being prepared ?

2 Answers  


what is the purpose of Aging bucket Report?

2 Answers  


Short Answer on ______________Assets

2 Answers  


Minimum and maximum members to create the following Sole trading Partnership Private ltd co Public ltd co

1 Answers  


Categories