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Outline the general information contained in the Profit and Loss Account (Income Statement) of a business. 10 marks b) Taking one Liquidity and one Activity/Efficiency

Outline the general information contained in the Profit and Loss Account (Income Statement) of a business. 10 marks b) Taking one Liquidity and one Activity/Efficiency ratio of your choice, briefly describe: (i) How each ratio is calculated; (ii) What each ratio tells us about the business.

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