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
- 8783 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 |
A machinery item puchase form M/s. XYZ for the cost of Rs.2,00,000/- with freight charges Rs.20,000/- and installation charges Rs.10,000/- what is the journal entry
4 Answers Chartered Accountant, Sony,
Tell me under the accrual basis of accounting, when revenues are reported in the accounting period?
how can we get a leaverage in intraday market if are not a professional acount holder?
What is the difference between Economics and Finance?
why only 6 months interest is charged on drawings
What is the TDS rate for Salary???????
Kindly define necessary ledger is to maintain in excise. Kindly define how we maintain P.L.A
what is mutual funds?
Dear sir , 1-what is diffrence local tax & vat 2 what is sales tax challan & return due date(monthly & quartly, annually) 3- what is service tax challan & return due tae
How can Calculate Deferred Tax of Any Firm Like Pvt. Ltd.
How many accounting standards are currently published?
hi to all this is sai i attend interview for genpact last week he asked me about BRS :if ur MD issued a cheque for his own insurance premium what u will do? this is the question plz give answer for this
13 Answers Genpact, Uttam Galva,
Audit 
