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need to prepare profit/loss acc.

This query is : Resolved 
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(Querist)
06 January 2009 hello friendz
a co.just has incorporated,has no business
just purchased land,no employee etc.
there is no expense
so is it mandatory for co.to prepare its p/l a/c?
there is also one guidance note also
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CA R N Mohil

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CA R N Mohil (Expert)
06 January 2009 Final account need to be prepared and audited, inspite of the fact that the company has no business
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