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What is trail balance? what is Profit & loss a/c ? what is
Balance sheet?
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Answer Posted / sarat kumar
trail balance is not a books of accounts it is a state ment
showing balances of various ladgera/c taken from
balancesheet.
profit &loss a/c show the net profit at end of financial
year
balance sheet helps the companey to know its financial
condition at end of every accounts year.
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