True amp fair profit and loss a c of a company know by ........

Accountancy (Phase -I & II) Company Final Accounts

True & fair profit and loss a/c of a company know by

Preparing trial balance

Preparing respective ledger of account

Preparing trading a/c

Preparing trading & profit & loss a/c

Traditionally, there were two steps to know the profit/loss. It meant, the preparation of :

Trading account reflects the gross profit or loss of the business. Profit & Loss Account shows the net profit or loss earned by the company

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