Answer / Babli Singh

Cut Over Activities refer to the process of switching from an old system to a new one. During this process, the old system is shut down and the new system is brought online.nnP/L (Profit and Loss) refers to the financial results of a business for a specific period. It includes revenues, expenses, and net profit or loss.nnB/S (Balance Sheet) provides a snapshot of a company's financial status at a particular moment in time, listing its assets, liabilities, and equity.nnDuring the cut over process, the P/L and B/S amounts will be updated to reflect the new system's transactions.

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