What is the purpose of the Cuenta de Pérdidas y Ganancias in accounting?
The Cuenta de Pérdidas y Ganancias shows the Profit or Loss of the compan...
What is the purpose of the Cuenta de Pérdidas y Ganancias in accounting?
The Cuenta de Pérdidas y Ganancias shows the Profit or Loss of the company. The Cuenta de Pérdidas y Ganancias is used to check if the Libro Mayor is balanced. The Cuenta de Pérdidas y Ganancias shows all the movements that have occurred in the Debit and Credit of the accounts involved in the accounting exercise. a) I is correct. b) II is correct. c) I and III are correct.
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