Question

What is trading profit and loss account​

Answer 1

the profit earned or loss incurred by business during an accounting period is known from the trading profit and loss account

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Answer 2

Answer:

Trading Account is an account that is prepared by the entities to know the profit earned or loss suffered from trading activities. On the other hand, Profit & Loss account is an account created to ascertain the net profit or loss for the period. ... For this purpose, the financial statement is prepared