WHY PROFIT & LOSS A/C, WHY NOT PROFIT & LOSS A/C

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WHY PROFIT & LOSS A/C, WHY NOT PROFIT & LOSS A/C..

Answer / megha arora

Profit & Loss A/C shows the net profit of the
Organisation.An oraganistion earns profit for
oprating,financing&investing activities etc.May be it be
the case that there may be loss from one activity and
profit from others and vice-versa.So P&L consists of both
loss as welll as Profit.That's why known as P&L not Por L.

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