Interested to Buy Any Domain ? << Click Here >> for more details...
Difference between Income & Expenditure A/c AND P/L a/c.
- 6 Answers
- 19434 Views
- HCL, Radico Khaitan, Siemens, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / nagaraj
As per my Knowledge the P&L account is prepared for the
companies who ate doing tradeing... where as Income&
expenditure account is prepared my non trading firms like
trust,educational instutions
| Is This Answer Correct ? | 18 Yes | 4 No |
Answer / dinesh thevar
income & expenditure a/c does not contain debit & credit
whereas p/L a/c contain debit & credit sides
income & expenditure a/cs are prepared in NTO (non trading
organisation or npo (non profit organisation)
for eg trust, institutions, societies etc.
p/L a/c are prepared in all trading firms which work for
profits
| Is This Answer Correct ? | 8 Yes | 5 No |
Answer / umer ali
Inc & Exp a/c.Its objective is to find SURPLUS or DEFICIT.Surplus means profit & Deficit means loss in income & expenditure a/c. P & L a/c finds PROFIT or LOSS.
| Is This Answer Correct ? | 4 Yes | 3 No |
Answer / a.rajeshwar
income & expenditure a/c prepared on
receipt basis relating to f.y or p.y, where
as P&L a/c shows accruals basis , simply
say I&E a/c prepared on single entry
system , P&L a/c prepared dual concept
basis
| Is This Answer Correct ? | 5 Yes | 5 No |
Answer / aparna reddy
in income and expenditure there is no debit ,credit whereas
in profit & loss a/c there is debit and credit
| Is This Answer Correct ? | 9 Yes | 19 No |
Expand ________GST
What is stock transfer? for ex: if i purchase a product in chennai and i tranfer it to our branch which is in bangalore. shall the blr office can bill the product to their customer in blr.(purchse frm chennai and bill in blr office is possible?
Hi friends ineed finacial analyst interview question Pls share it
expand -------SRD
What is the difference between straight line depriciation method and written down value method?
6 Answers Deloitte, Sky n Sea Cargo,
WHAT IS MEANT BY FACTORING, TRESURY BILLS,BULLS, BEARS
euro currency market
WCT ,TDS,Service tax ,costmor accounting
please tell defination of goodwil and copyright?
what is the accounting treatment for contingent laibility?
What is the Limitation of LTC expenses? or Dedcution allowed in a year.............
Why should we prepare profit
30 Answers Accenture, Maharaja Whiteline,
Audit 
