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Accounting to which concept, all expenses incurred to earn revenue of a particular period should be charged against that revenue to determine the net income?

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Netti Surya Prakash Rao
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Which statement is prepared to know the profitability of the business?
Profitability of a business entity can be estimated through trading p&l account. Where trading account states the gross profit and p&l account states the net profit earned by the entity.
Sumit
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What is meant by Capital?
In simple terms any thing bring by the owner of business to start the business activity or for investing
Arati Chaudhari
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What is the difference between Cash & Cash Equivalent?
1. Cash means Paper money , coins , Money order etc But, Cash Equivalent means Highly Liquidable Securities 2. Cash has not any Time period . It is Demand Receipt But , Cash Equivalent Take some time...
Madhav

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