Question

profit and loss account information with sample​

Answer 1

Answer:

Profit and loss account shows the net profit and net loss of the business for the accounting period. ... Profit and loss account get initiated by entering the gross loss on the debit side or gross profit on the credit side.

Answer 2

HELLO DEAR GOOD AFTERNOON

Trading and profit and loss accounts are useful in identifying the gross profit and net profits that a business earns.

Trading and profit and loss accounts are useful in identifying the gross profit and net profits that a business earns....

Trading and profit and loss accounts are useful in identifying the gross profit and net profits that a business earns....Difference between Trading and Profit and Loss Account.

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