SAP Business One Certification Practice Exam

True or False: In the profit and loss statement, you can display balances of business partners.

1. True

2. False

3. Only for major business partners

4. Only in the Trial Balance

The correct answer is: False

In the context of the profit and loss statement, the primary focus is on summarizing the revenues and expenses over a specific period to determine the net profit or loss of a business. This statement is designed to provide insights into the overall financial performance of the company rather than the individual balances of business partners or specific customers. While it is possible to gather information about business partners and their balances, this information is typically found in accounts receivable statements or specific reports tailored to customer accounts, not in the profit and loss statement. The profit and loss statement aggregates income and expenses and does not concern itself with granular details pertaining to individual business partners. The correct understanding therefore aligns with the statement that you cannot display balances of individual business partners in the profit and loss statement, confirming that the answer is accurate.