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What is the difference between income statement &
Profit&loss A/c?
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A company maintains a margin of safety of 25% on its current sales and earns a profit of Rs. 30 lakhs per annum. If the company has a profit volume (P/V) ratio of 40%, its current sales amount to A. Rs. 200 lakhs; B. Rs. 300 lakhs; C. Rs. 325 lakhs; D. None of the above.
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