Question

profit and loss a/c is prepared to know​

Answer 1

Answer:

Every business wants to know the incomes earned and expenses incurred during a particular period, usually at the end of the year. Profit & Loss Statement/Account shows the profits/losses earned/incurred by a business for a month or a year.

Explanation:

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Answer 2

Answer:

Every business wants to know the incomes earned and expenses incurred during a particular period, usually at the end of the year. Profit & Loss Statement/Account shows the profits/losses earned/incurred by a business for a month or a year.

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