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प्रश्न
What is the purpose of preparing trading and profit and loss account?
थोडक्यात उत्तर
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उत्तर
The preparation of the trading account is done in order to record the gross profit or loss of the concerned business organization for a particular accounting period.
The profit and loss account on the other hand helps the business to calculate the net profit or net loss incurred by the business for a particular accounting period.
This thus helps the business to compare their business performance and the necessary actions in this regard.
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