1. Sales refers to goods sold for money, while turnover includes goods sold for money as well as goods given away for free or consumed by the owner. 2. The trading account includes all direct expenses related to purchasing and selling goods, while the profit and loss account includes all indirect expenses as well as net profit. 3. As the MIS in-charge, the manager wanted to know about the daily updated work and information I provide to management with less time. 4. When handling accounts receivable, one should check amounts, follow company policies on credit terms and statutory charges, collect TDS certificates, and ensure customers face no inconveniences.