Accounting for IGCSE & O level - Final Statements (Section 14 - No. 1)
If gross profit is greater than total expenses in the same year, the business will make which of the following?
A gross profit.
A gross loss.
A profit for the year.
A loss for the year.
ব্যাখ্যা
If gross profit exceeds expenses, the business makes a profit for the year.