The users of financial information can understand the strength and weakness of the business concern with the help of: a. Profit and loss account b. Balance Sheet c. Statement of cash flows d. Profit and loss appropriation account

The users of financial information can understand the strength and weakness of the business concern with the help of: a. Profit and loss account b. Balance Sheet c. Statement of cash flows d. Profit and loss appropriation account

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter10: Auditing Cash And Marketable Securities

Section: Chapter Questions

Problem 38RSCQ

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Question

The users of financial information can understand the strength and weakness of the business concern with the help of:

a.
Profit and loss account

b.
Balance Sheet

c.
Statement of cash flows

d.
Profit and loss appropriation account

*Repy fast plz***

Definition Definition Amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item

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