Why Accountants have to or must prepare INCOME STATMENT in
two stages Gross Profit And Net Profit
Answers were Sorted based on User's Feedback
To know axactly the result of the venture we had undertaken
we prepare Trading account to know the gross result. With
that we can know the result and can take adecission whether
to continue the venture or not and also to take such steps
to improve the afforts to reach the targeted result if it
is not showing the expected one.With the profit an loss
account we can know the exact net result after meeting all
the relevant expenditure
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Answer / dambar dev ojha
To know the operaing expenses and direct expenses.
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