what is the difference betwen p & l a\c and income &
expenditure statement
Answers were Sorted based on User's Feedback
Answer / srinivas annavarapu
P&L account is prepared by the firms who runs business to
make or with a motive to earn Profits.
Whereas Income & Exp statement is prepared by the non-
profit motive organisations like Orphanages or any other
service organisations.
Is This Answer Correct ? | 34 Yes | 3 No |
Answer / ravinder.sunkara
income & expenditure statement is prepare for the service organizations
profit& loss a/c is prepare for the business organizations
Is This Answer Correct ? | 10 Yes | 1 No |
Answer / abdul bari
P&L A/C is prepared by trading companies, where as income &
expenditure statement is created by Non- trading companies
Is This Answer Correct ? | 2 Yes | 0 No |
what are valuation accounts?
what is a reducing balance method and depreciation fund investment method and 2 diffrences?
Expand ________FICCI
EXPAND___________LOA
Explain kinds of accounts
What is Income Statement ?
what is the distinction between Bill of Exchange and a Cheque
What is Capital redumtion Reserve ( CRR )?
what is working management?
What is revaluation of Accounts, how does it is accounted in business
What Do You Understand By The Word Accounting
7 Answers ADP, College School Exams Tests,
venture capital