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مشاهدة النسخة كاملة : ?why do we prepare profit and loss a/c



محاسب متخصص
03-10-2014, 08:02 AM
?WHY DO WE PREPARE PROFIT AND LOSS A/C

Profit and loss account is prepared to know the profitability of the business. At the end of accounting period, a business prepares profit and loss account to ascertain the profit or loss of the business. All ledger accounts of revenue nature are summarized in profit and loss account.