Why Retained Earning Account is necessary for the set of
book creation while implementing oracle new business.
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Answer Posted / rajiv gupta
Yes , u r right Srinibas....
Becasue if we do not define this Retained Earning account
then where the difference of Earning and expenditure will
go. This account is also called as Profit and Loss account
(P&L). As the balance in this account reflect the Profit
and loss of company.
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