Choose the correct chronological order of ascertainment of the following profits from the profit and loss account :
1)Operating Profit, Net Profit, Gross Profit
2)Operating Profit, Gross Profit, Net Profit
3)Gross Profit, Operating Profit, Net Profit
4) Gross Profit, Net Profit, Operating Profit

Options

A. Operating Profit, Net Profit, Gross Profit
B. Operating Profit, Gross Profit, Net Profit
C. Gross Profit, Operating Profit, Net Profit
D. Gross Profit, Net Profit, Operating Profit

Answer

correct answer is option 2 : Gross Profit, Net Profit, Operating Profit

Explanation

At the top of the year, books of the business area unit closed and monetary statements area unit ready to grasp the profit of the organization.