The profit and loss disclosed by the accounts of a company is:
A. Transferred to share capital account
B. Shown under the head of ‘Current l iabilities’ and provisions
C. Shown under the head ‘Reserves and Surplus
D. None of these
Answer:C
The profit and loss disclosed by the accounts of a company is:
A. Transferred to share capital account B. Shown under the head of ‘Current l iabilities’ and provisions C. Shown under the head ‘Reserves and Surplus D. None of these