Business Functions

Profit and loss account

Instructions

Match the key term to it's description by dragging the term in the green boxes to match up with the correct definition in the yellow box.

The trading profit and loss PDF – Page 1

Key terms

Definition

You have 0 answers correct.

  • Gross profit
  • Expenses
  • Net profit
  • Dividend
  • Retained profit
  • Income statement
  • Appropriation account
  • Opening stock
  • The profit after deducting cost of sales from revenue.
  • This shows how much money is going out of the business in terms of overheads and direct costs.
  • The profit after deducting expenses.
  • The amount paid to shareholders as a reward for investing in the business.
  • This is the final profit after tax and other appropriations, such as dividends, have been distributed.
  • Another name for profit and loss accounts used by limited companies.
  • The final part of the profit and loss account which shows how the profit is distributed.
  • This is the stock the business already has at the start of the financial year.