Exercise 23: Simple Financial Reports Exercise
The objective of this exercise is for the learner to gain an understanding of the Profit and Loss Statement and the Balance Sheet. The learner is provided with a template that makes the task relatively simple to workout Profit on the Profit and Loss Statement, and Ownership Equity in the Balance Sheet.
Completing Profit and Loss Statement requires the learner to distinguish between income and expenditure items, and similarly the learner must distinguish between assets and liability items.
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