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Thanks for invitation, In a very brief and precise wording: 1- Profit and loss account is in fact not an actual account , but it is a default account issued in order ... Voir Plus
One of the major differences between the profit and loss statement and the balance sheet involves their respective treatments of time. The balance sheet summarizes the fi ... Voir Plus
You can determine only gross profit from P/L but Income statement shows the whole amount that you earned (Net Profit)Secondly Income Stament shows the Whole worth of your ... Voir Plus