Expalin about the distinction between Profit and loss a/c and balance sheet

Expalin about the distinction between Profit and loss a/c
and balance sheet

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Expalin about the distinction between Profit and loss a/c and balance sheet..

Answer / neha

Profit & loss a/c shows the profit or loss of the organization.
Balance sheet shows the financial position of the organization
like solvency or insolvency.

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