What is the difference between P&L account and Balance Income
& Expenditure account ??
Answers were Sorted based on User's Feedback
Answer / dhanesh chandramangal
1.P & l account maintained by profit oriented compaies,
income & expenditure account is mainted by service oriented
companies[hospital, charitable society,etc]
Is This Answer Correct ? | 11 Yes | 0 No |
Answer / nancy
Expenditure is the amount of money spent on a weekly or
monthly basis.
income is the financial gain (earned or unearned) over a
given period of time.
a profit and loss account is an account compiled at the end
of an accounting period to show gross and net profit or loss
Is This Answer Correct ? | 4 Yes | 2 No |
Answer / umair
Profit and Loss Account is prepared by Profit Oriented
Organization, while Income and Expenditure Account is
prepared by Non Profit Organization.
Is This Answer Correct ? | 1 Yes | 0 No |
Tell me what are the key tasks for account executive?
how to pass entry in tally when insured item damage. But goods purchases with in state.
At the time of advance tds deducted 2% contract which was wrong but when we adjusting the adavace tds deducting 10% rent how can we adjusting that amount
genteral interview question for accounting
what made you take up present subject/area of specialization and what would you define as your career objectives
Whst is the formula for getting the GOODWILl ??
Ram supplied to kumar machinery worth rs 2000 in exchange for furniture worth rs 1000, goods for rs800 and cash rs 200. show how this would appears in Ram account ?
KINDLY EXPLAIN THREE TYPES OF ACCOUNTS WITH EXAMPLES
What is the entry for Accumulated Depreciation??
Define and distinguish between flexible and floating exchange rate system. What kind of exchange rate system does china have?
what is the meaning of single entery system and double entery system ?
Entry of vehicle loan paid some margin money and other amount financed by bank and repayment of bank loan?