What are all the items come under P&L and Balance sheet?
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Answer Posted / satheesh sivarajan
Profit & Loss A/c. includes all revenue reciepts and
expenditures. Where as Balance Sheet contains the captial
Reciepts & Expenditures.
Under the mercantile system, all the oustandings & accruals
shall be taken in the P & L a/c. and B/S.
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