Question

what is the relation between profit & loss and balance sheet.



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Answer 1

Answer:

A balance sheet provides both investors and creditors with a snapshot as to how effectively a company's management uses its resources.

A profit and loss (P&L) statement summarizes the revenues, costs and expenses incurred during a specific period of time.

Explanation:

this is your answer

Answer 2

Answer:

PROFIT REFERS TO GAIN MORE MONEY THAN THE INVESTED MONEY.

LOSS REFERS TO LOWER INCOME/ LOWER GAIN THAN THE INVESTED MONEY.

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