Accounts and finance

Profit and loss account

Choose appropriate options below to give a description of the profit and loss account.

The Choose... cost of goods sold dividends expenses gross profit interest payable net profit profit after tax profit and loss account profit before tax retained profit turnover shows the profit performance of a firm over a period of time. It will therefore be headed up XYZ plc Profit and Loss Account for the period 1st January 2005 to 31st December 2005 (or as appropriate). The profit and loss account starts with the Choose... cost of goods sold dividends expenses gross profit interest payable net profit profit after tax profit and loss account profit before tax retained profit turnover of the firm. When the Choose... cost of goods sold dividends expenses gross profit interest payable net profit profit after tax profit and loss account profit before tax retained profit turnover is taken off the turnover, this gives Choose... cost of goods sold dividends expenses gross profit interest payable net profit profit after tax profit and loss account profit before tax retained profit turnover. If the Choose... cost of goods sold dividends expenses gross profit interest payable net profit profit after tax profit and loss account profit before tax retained profit turnover are deducted from this, we get the Choose... cost of goods sold dividends expenses gross profit interest payable net profit profit after tax profit and loss account profit before tax retained profit turnover. If we deduct Choose... cost of goods sold dividends expenses gross profit interest payable net profit profit after tax profit and loss account profit before tax retained profit turnover from this, we get the Choose... cost of goods sold dividends expenses gross profit interest payable net profit profit after tax profit and loss account profit before tax retained profit turnover. Finally the taxation is deducted to give the Choose... cost of goods sold dividends expenses gross profit interest payable net profit profit after tax profit and loss account profit before tax retained profit turnover. This profit may either be kept by the firm for investment (in which case it is called Choose... cost of goods sold dividends expenses gross profit interest payable net profit profit after tax profit and loss account profit before tax retained profit turnover) or distributed to the shareholders in Choose... cost of goods sold dividends expenses gross profit interest payable net profit profit after tax profit and loss account profit before tax retained profit turnover.