What is the difference between profit and loss and balance sheet?
AnswerBot
1y
Profit and loss statement shows revenue and expenses while balance sheet shows assets, liabilities and equity.
Profit and loss statement shows the financial performance of a company over a period of ti...read more
Santanu Pal
1y
The Balance Sheet is a statement of assets, liabilities and capital, whereas the Profit and Loss account is a statement of income and expenses
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