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Net Profit or Loss will be derived at _______ stage of accounting
  • a)
    Classifying
  • b)
    Interpretation 
  • c)
    Recording 
  • d)
    Summarising 
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Net Profit or Loss will be derived at _______ stage of accountinga)Cla...
 Summarising stage is concerned with the preparation and presentation of the classified data in a manner useful to the internal as well as external users of financial statements. This process leads to the preparation of the following financial statements. Therefore, Net Profit or Loss is derived at the summarising stage.

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Most Upvoted Answer
Net Profit or Loss will be derived at _______ stage of accountinga)Cla...
it is so because pnl account and trading account is prepared in the summarising stage to represent the conclusions of data for users.
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Community Answer
Net Profit or Loss will be derived at _______ stage of accountinga)Cla...
refer module page 1.5
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Net Profit or Loss will be derived at _______ stage of accountinga)Classifyingb)Interpretationc)Recordingd)SummarisingCorrect answer is option 'D'. Can you explain this answer?
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