What is the significance of net profit or loss ... - JSS3 Business studies Forms of trial balance Question
What is the significance of net profit (or loss) in the profit and loss account, and how is it calculated?
Net profit (or loss) represents the difference between total revenue and total expenses incurred by the company. It indicates the overall profitability of the company's operations during the period. Net profit is calculated by subtracting total expenses from total revenue.
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