PROFIT AND LOSS - Practice Mode

1) What is discount?
Correct Answer: The reduction given to the selling price of a product
2) What is a profit?
Correct Answer: Selling price - Cost price
3) What is the term, if an article is purchased?
Correct Answer: Cost price
4) What is the expanded form of S.P?
Correct Answer: Selling Price
5) Which is the short form of profit and loss statement?
Correct Answer: P & L
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