Profit and Loss
Profit and loss
Gap-fill exercise
Fill in all the gaps, then press "Check" to check your answers.
1 As A. Z. Designs Ltd is a small printing company, all their printing contracts are known as
administrative expenses
cost of sales
distribution
dividend
extraordinary
ordinary
retained
turnover
activities.
2 Recently, a film company paid A. Z. Designs a large amount of money to use the company's premises when they were making a film. This was recorded in the P&L Account as
administrative expenses
cost of sales
distribution
dividend
extraordinary
ordinary
retained
turnover
income.
3 Income which the company makes in its normal activities is known as
administrative expenses
cost of sales
distribution
dividend
extraordinary
ordinary
retained
turnover
.
4 At the end of the year, some of the profits may be shared out among the shareholders who will receive a
administrative expenses
cost of sales
distribution
dividend
extraordinary
ordinary
retained
turnover
.
5 The costs of getting the goods to the customers are shown as
administrative expenses
cost of sales
distribution
dividend
extraordinary
ordinary
retained
turnover
costs in the P&L Account.
6 Materials which are used up in manufacturing and workers wages are recorded as
administrative expenses
cost of sales
distribution
dividend
extraordinary
ordinary
retained
turnover
7 The secretary’s salary, and expenses incurred in the office are shown as
administrative expenses
cost of sales
distribution
dividend
extraordinary
ordinary
retained
turnover
8 The company may decide to keep some of the profits at the end of the year and the amount is shown as
administrative expenses
cost of sales
distribution
dividend
extraordinary
ordinary
retained
turnover
profits.
Check
OK
Profit and Loss