The second item in the statement of profit and loss is .

Other Expenses

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Other Income

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Total Expenses

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Total Income

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Solution

The correct option is B Other Income
"Other income" is a second item in the statement of profit and loss.

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Similar questions

Particulars ulars	Note No.	31st March, 2018 (₹)
I. Income
Revenue from Operations		15,00,000
Other Income		60,000
Total Revenue		15,60,000
II. Expenses
Purchases of Stock-in-Trade		7,50,000
Change in Inventories of Stock-in-Trade		50,000
Other Expenses		2,10,000
Total		10,10,000
III. Net Profit before Tax (I-II)		5,50,000

Prepare the format of statement of Profit and Loss and explain its items.

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