why we use the term profit and loss account instead of profit or loss account

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Define Normal Loss and Abnormal Loss what is the effect in books of accounts.

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Prepare a trading account, profit and loss Account and Balance sheet form the following trail balance and other adjustments as on 31.12.2009 Adjustments: 1. Closing stock R 7060 2. Allow interest on capital at 6% p.a 3. Insurance prepaid Rs 60 4. Depreciate Building and furniture at 10% p.a. 5. Wages due Rs 40 6. Provide 10% RBD and 5% on debtors and creditors 4. From

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Expand ________BBC

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WHAT IS THE DIFFERENCE BETWEEN SEND FOR APPROVAL (WITHOUT PARKING) AND ASSIGNMENT CORRECT IN MYSAP FI POSTING?

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Comments Elements in accounting

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What is the treatment for 'DEFERRED REVENUE EXPENDITURE'?

26 Answers   Accenture, Capital IQ, Genpact,

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Expand-------ANTS

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why is it called profit and loss account why not profit or loss account, ( u either get profit or loss )

13 Answers   Genpact, Symbiosis,

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WHAT ARE THE TDS RATES ON VAT IN ANDHRAPRADESH STATE.

3 Answers   Genpact,

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what is the cost and financial accounting? what is double entry system ?

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For the production of 10,000 units the following are the budgeting expenses: Per Unit Rs. Direct materials 60 Direct labour 30 Variable overhead 25 Fixed overhead (Rs.1,50,000) 15 Selling expenses (10% fixed) 15 Variable expenses (direct) 5 Administrative expenses (Rs.50,000 fixed) 5 Distribution expenses (20% fixed) 5 Total cost of sales per unit 160 Prepare the flexible budget for the production of 6,000 , 7,000 ,and 8,000 units of production

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