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P&L Account & Trial Balance.

What is the difference between P&L account and Trial Balance?
Asked by: sdamirmohd | Member Since May-2012 | Asked on: May 22nd, 2012

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Showing Answers 1 - 2 of 2 Answers
Kamla Amarnauth

Answered On : Jun 2nd, 2012

P& l account do not include asset accounts

  
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pushpa c bonal

Answered On : Jun 7th, 2012

1) P/L is prepared to ascertain net profit or net loss
2) P/L balance is transferred to balance sheet
3) Records various income and exp

Trail Balance
1) It is statement containing various ledger account balance
2) Prepared to check arithmetical accuracy
3) It does not indicate profit and loss

  
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