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Which of the following statements is not true about profit and loss account of a farm?

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Which of the following statements is not true about profit and loss account of a farm?

A. it is prepared at the end of business period usually a year
B. all expenses and purchases are listed on the right-hand side
C. all expenses and purchases are listed on the left-hand side
D. all receipts and sales are listed on the right-hand side




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