Question

Profit and Loss Account is prepared​

Answer 1

Answer:

this is your answer

Explanation:

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Answer 2

Answer:

generally prepared at the end of financial year to know whether a company gained or losses from its transaction from the previous year

Explanation:

generally debit side operating and non operating expenses will be posted and on the credit side operating and non operating gains will be recorded and gross profit will be included too on the credit side of p&l account