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P1 C8 Journal Proper — Account STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceAccountP1 C8 Journal Proper1 Mark
Question
What is Adjustment entries ?
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Answer

At the end of the year, to know true and fair profit and financial position of the business, certain accounting effects / entries are to be passed. They are known as adjustment entries.

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