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What is Trading Account? What is the significance of this
account?
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Answer / lxmi1972
Trading Account means where a company has Sales,
purchase,Sales Return,Purchase Return along with the
Closing stock .
Trading Account plays a vital role as this will determine
the Gross Profit of the Company.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / h.r. sreepada bhagi
Trading A/c presents the Gross Profit for an accounting
period as the operating result of -
1.Opening Stock
2.Net Purchases
3.Direct Expenses
4.Net Sales, and
5.Closing Stock.
This is prepared to now the operating efficiency & operating
margin of a Trading Company.
| Is This Answer Correct ? | 5 Yes | 2 No |
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