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Explain the Trading Account, the Profit and Loss Account, and the Balance Sheet of a Financial Statement. Describe each's main elements. Describe the various types

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Explain the Trading Account, the Profit and Loss Account, and the Balance Sheet of a Financial Statement. Describe each's main elements. Describe the various types of financial ratios under the following category, outlining the significance of every ratio. a) Liquidity ratios b) Financial leverage ratios c) Turnover ratios d) Profitability Ratios

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