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Answer Posted / mubashshir
TRADING ACCOUNT IS MADE BEFORE PROFIT AND LOSS ACCOUNT WITH ALL EXPENSE REALTED TRANSACTION AND TO FIND OUT GROSS PROFIT AND LOSS
PROFIT AND LOSS ACCOUNT IS PREPARED AFTER TRADING ACCOUNT AND BEFORE BALANCE SHEET DIRECT/INDIRECT INCOME/EXPENSES ARE TO BE RECORDED WHICH ARE NOT RELATED TO THE PURE TRADE.
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