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 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 income.
3 Income which the company makes in its normal activities is known as .
4 At the end of the year, some of the profits may be shared out among the shareholders who will receive a .
5 The costs of getting the goods to the customers are shown as costs in the P&L Account.
6 Materials which are used up in manufacturing and workers wages are recorded as
7 The secretary’s salary, and expenses incurred in the office are shown as
8 The company may decide to keep some of the profits at the end of the year and the amount is shown as profits.