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Explain with the help of Dummy data Profit and Loss Account statement and the Balance sheet, their usage and inference.
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teamques10
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Balance Sheet
Balance Sheet portrays value of economic resources controlled by an enterprises and the way they are financed.
A balance sheet or statement of financial position is a summary of the financial balances of an entity on a particular point of time. i.e. summary of organization's assets, liabilities and …
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