2.5.3 - Statement of Profit and Loss
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Practice Questions
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What is Revenue from Operations?
💡 Hint: Think about the main activities that a business does.
Define Profit after Tax.
💡 Hint: Consider what remains after all costs are paid.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What is included in the revenue section of the Statement of Profit and Loss?
💡 Hint: Focus on what a company earns primarily.
True or False: Profit after Tax is calculated by subtracting expenses from Revenue from Operations.
💡 Hint: Think about what needs to be deducted from revenue.
1 more question available
Challenge Problems
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A company reported ₹1,000,000 in Revenue and ₹600,000 in expenses, with ₹150,000 allocated for tax. What is the Profit after Tax?
💡 Hint: Subtract both the total expenses and the tax from revenue.
Discuss the impact of adjusting for depreciation on the Profit before Tax figure.
💡 Hint: Consider how assets losing value can affect profits.
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