Accountancy, asked by jsisbsiwbsuywgiahwia, 1 month ago

difference between treading account and profit and loss account

Answers

Answered by ItszBrainlyQueen

4

Trading account is an account which indicates the result of trading activities, such as purchase and sale of products. Profit & loss account is an account, representing the actual profit earned or loss sustained by the business during the accounting period. It is prepared to ascertain gross profit for the period.

Answered by shabanashah

1

Answer:

Trading account is an account which indicates the result of trading activities, such as purchase and sale of products. Profit & loss account is an account, representing the actual profit earned or loss sustained by the business during the accounting period. It is prepared to ascertain

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