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Profit & Loss A/C

chapter 40 page 349 Eurobusiness

QuestionAnswer
The Profit & Loss account records the selling, distribution and administration expenses involved in running a business as well as any gains received from non-trading activity.
Net Profit/Loss Gross Profit+Gains-Expenses
Carriage Outwards transport costs incurred in delivering the goods from the firm to their customers.
Created by: murphyspooks
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