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Profit and Loss Account
Profit and loss account is that part of final account is made for calculating the net profit or net loss. In the debit side of this account, we show all indirect loss and expenses and in the credit side of this account, we show all indirect incomes. After matching debit and credit side of profit and loss account, we can find net profit or loss of business.
It is useful to find out the Profit or Loss of the Restaurant for the given financial period.
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