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What is Profit and Loss Account? What is Balance Sheet?
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Answer Posted / sankeerthana
Profit and Loss account will be prepared to know the nett
result of a business organisatiion for a given period
Like wise balance sheet will be prepared to know the
Financial Postion of a Busines Organisation for a given
period
To know more about Practical commerce and taxation pl visit
my favourite website http://therealaccountants.com
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