Distinguish between: (a) Capital expenditure and revenue expenditure (b) Gross profit and net profit (c) Profit and

Question:

Distinguish between:

(a) Capital expenditure and revenue expenditure

(b) Gross profit and net profit

(c) Profit and loss account and balance sheet

(d) Trial balance and balance sheet

(e) Trading account and profit and loss account

(f) Direct expenses and indirect expenses

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Ali Khawaja

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