Question

'Manufacturing Account' is prepared by _________.

• A. Pharma Industry
• B. Cement Industry
• C. Iron Industry
• D. All of the above

Answer 1

The correct option is D All of the above

Every business have to prepare financial statements at the end of every financial year to know the profitability and financial position of the business. In case of trading concern, business need to prepare trading account and Profit & Loss account and the Balance Sheet. In case of manufacturing concern, business need to prepare manufacturing account, trading account and Profit & Loss account and the Balance Sheet.