Professional Courses
Industry-relevant training in Business, Technology, and Design to help professionals and graduates upskill for real-world careers.
Categories
Interactive Games
Fun, engaging games to boost memory, math fluency, typing speed, and English skills—perfect for learners of all ages.
Typing
Memory
Math
English Adventures
Knowledge
Enroll to start learning
You’ve not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.
Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does the Profit and Loss Account primarily calculate?
💡 Hint: Think about what financial performance means.
Question 2
Easy
Name one indirect expense.
💡 Hint: Consider costs that are necessary for business operation but not production-related.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the primary purpose of the Profit and Loss Account?
- To calculate gross profit only
- To calculate net profit or loss
- To record asset values
💡 Hint: Think about the end-result of all calculations.
Question 2
True or False: Indirect expenses are directly related to the production process.
- True
- False
💡 Hint: Consider the definition of indirect expenses.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company reports gross profit of ₹200,000, indirect incomes of ₹50,000, but later finds indirect expenses amount to ₹120,000. What is the final outcome, profit or loss?
💡 Hint: Remember to follow the correct order of addition and subtraction.
Question 2
Evaluate how changes in indirect expenses could impact a company's net profit over the years; provide an example.
💡 Hint: Think in terms of percentages; how much is each cost affecting the profit?
Challenge and get performance evaluation