what is trading Account ?
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Answer / shekhar
trading accounting is prepared at the end of the accounting
year.the main use of this accouning calculation of gross
profit pr gross loss.and in this all mfg expenses are
included.in this accounting debit is more than credit is
known as grossloss.debit is less than credit known as gross
profit.
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Answer / animesh
Trading A/C is prepared at the end of every year.Transaction and Expenses related to the goods are recorded in it.For e.g, like Purchase-Sale of goods,Freight Carriage inward etc.It is useful to find out the GP(Gross Profit) OR GL(Gross Loss).
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