Interested to Buy Any Domain ? << Click Here >> for more details...
What is the Difference Between P & L A/C and Income and
Expenditure A/C ?
- 3 Answers
- 8959 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / aftab
Profit and Loss Account using for calculating profit and
loss, this using those company which make for earning
profit. Income and Expenditure account using only for
calcuate the surplus and deficit, this using which company
they are not relation with any income. like charitable
trust and non-profit company prepare Income and expenditure
account.
| Is This Answer Correct ? | 12 Yes | 1 No |
Answer / gouthami
profit & loss account is prepare to know net profit or net
loss for a particular year
the main objective of profit and loss account is to know
net profit (trading concerns)
____________________________________________________________
income and expenditure is prepare to know surplus or
deficit of the company this account is prepare by the non
profit companies like Charitable trust.
(non trading concerns)
| Is This Answer Correct ? | 8 Yes | 0 No |
Answer / umamaheshwara rao
profit & loss is prepare when they have completed their financial year. they should be calculated our trading and profit and loss account. it is prepare only for trading concern. and income and expenditure account should be prepare only non trading concern like charitable trusts. temples
| Is This Answer Correct ? | 2 Yes | 0 No |
what is the diffrence between accounting and finance?
What is the general classification of accounts that usually ledger account involve?
A non-function currency claim:- Employee while updating a non functional currency claim the system uses the period end rate i.e. any claim pertaining to the period 01Aug - 25th Aug. the system uses the period end rate as of July 31st. (2) Also, what is the basis of using the period end rate not the average rate for expenses claim. Can you please clarify my question.
What is absorption costing with defination? and what is marginal costin with defination?
WHAT CAN CLOSING STOCK SHOWING IN TRIAL BALANCE
Tell us depreciation and its types?
Closing stock not considered in Trial Balance,why?
Do you know compound journal entry?
in Tally accounting programme where should I can make ledger for Work in Progress? under which accounting head? Eg. Debit will be under Current Asset a/c and what about credit? whether it is under Purchase a/c? or under Income a/c?
Productive Investment is Working Capital. Is it correct?
what is a gross profit ratio?
What is a Special Calendar and its types
Audit 
