why is it called profit and loss account why not profit or
loss account, ( u either get profit or loss )
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Answer Posted / ronald antony t
Because P&L a/c records profits earned by business and loss incurred to business
And Net Profit/loss is just balancing fig of abow insted of transfering all profits and loss we are just transfering Net Balance
| Is This Answer Correct ? | 11 Yes | 7 No |
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