All items of ________ value are shown under Trading and Profit & loss Account.

Capital

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Revenue

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Deferred

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None

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Solution

The correct option is D Revenue
Trading and Profit & loss account are the accounts in which all items of revenue nature is included. Trading and Profit & loss account are prepared to arrive at gross and net profit or loss earned or incurred by business organization in the normal course of business .
Only the items of revenue nature will be included in trading and profit & loss account.
Examples of revenue nature items are purchase, sales. wages paid, depreciation, administration expense etc.

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Similar questions

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