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Essay's paper info
| Topic: |
Business
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| Number of pages / Number of words: |
4 / 926 |
Essay's paper body
It deducts the total expenses incurred during that period in generating the revenue. The difference between total venue and total expenses will show whether a profit or loss has been made. (McLaney and Attrill: 2005).
The Profit and Loss account year ending 31 July 2007 show that a Net profit of ?23049 has been made however the business is overdrawn by ?2637...
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The Balance Sheet shows creditors of ?3351 and debtors of ?1943 therefore there is more going out of the business then what is expected to be coming in. The current assets within the business such as the stock levels are quite high with an amount of stock being bought on credit therefore the business has to be able to sell stock to generate income...
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