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difference Between P&L A/c and Balance Sheet?

Answer Posted / mohd abdul qader

P&L account is an account which is prepared for whole year
or for a given period where as Balancesheet is Prepared for
a given date.

P&l Account take account of Revenue items where as Balance
sheet is for capital item, only revenue account in balance
sheet is the balance from P&l account.

Is This Answer Correct ?    37 Yes 9 No



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