The balance of trading account is called
A)Balance carried down
B)Net profit
C)Gross profit
D)Suspense account

Name: The balance of trading account is called A)Balance carried down B)Net profit C)Gross profit D)Suspense account
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Question

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The balance of the trading account, after accounting for all direct revenues and direct expenses, is called Gross Profit. This figure represents the profit made from the core operations of a business before administrative expenses, financial costs, and taxes are accounted for.

The Balance of Trading Account Is Called