The Profit and Loss Account shows the:
AFinancial position of the concern on a particular date
BFinancial results of the concern on a particular date
CCost of goods sold during the period
DFinancial results of the concern for a period
Correct answer
D. Financial results of the concern for a period
Explanation
A profit and Loss Account is prepared for the period ending which shows the financial or operating results of the concern for a period.