Why Net Result Of The Business Called Profit And Loss A/c Why Not Profit Or Lo

Why Net Result Of The Business Called Profit And Loss A/c
Why Not Profit Or Loss A/c?

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Why Net Result Of The Business Called Profit And Loss A/c Why Not Profit Or Loss A/c?..

Answer / kulad hanif

Because in P & L A/C all itmes do not have loss and all itmes do not have profit. All itmes are mixed in a single statement, that is the reason it is called as P&L A/C and not P or L A/C.

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Why Net Result Of The Business Called Profit And Loss A/c Why Not Profit Or Loss A/c?..

Answer / abinaya jaisankar

Because the business always carries profit and loss
figures, whatever may be net result

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